China's leaders announce plans for moderately loose monetary policy to support economy
China's leaders have announced plans to adopt a "moderately loose" monetary policy to support the slowing economy. This marks a shift from the "prudent" policies in place for the past 14 years. The Hang Seng index rose 2.8% following the announcement, reflecting market optimism. The government aims to boost consumer spending through increased government spending and easier credit. Consumer inflation remains low, providing room for potential interest rate cuts. Premier Li Qiang criticized countries imposing high tariffs, suggesting these measures hinder global economic growth.