China pledges to stabilize economy after planning meeting but lacks stimulus details

Chinese leaders concluded a two-day planning meeting with commitments to stabilize the economy but did not provide specific details on new stimulus measures. They emphasized a shift to a more proactive fiscal approach and a "moderately loose" monetary policy. The meeting reiterated plans to raise the fiscal deficit and issue long-term government bonds to finance spending. Leaders also aimed to stabilize the struggling property market and boost consumer spending amid job market weaknesses. Recent policies have encouraged spending, particularly in the auto sector, which saw a 17.5% increase in sales in November. While exports are showing strength, challenges remain due to tariffs and a slow recovery in the property market.