China plans to boost spending and ease monetary policy to support economy

Chinese leaders have outlined plans to boost government spending and ease monetary policy to support the economy. This follows concerns over potential tariffs from President-elect Donald Trump, which could impact trade with the U.S. During the Central Economic Work Conference, officials emphasized improving citizens' well-being and pledged to raise the national deficit cap. They aim to align wage increases with economic growth and expand consumer spending initiatives. The government is expected to adopt a "moderately loose" monetary policy, moving away from the previous cautious approach. Analysts noted that while some measures were announced, investors were left wanting more specific details, leading to declines in stock markets.