China will adopt an "appropriately loose" monetary policy next year as part of steps to support economic growth, state media reported on Monday citing a Politburo meeting, marking the first such shift towards loosening since 2010.
China ADRs rally. Among the Stocks from the China ADRs list with a market copitalization of over USD 1bilion, ranked by the top 10 highest price increases on 9/12/2024, Tiger Brokers soared 26%, Bilibili Inc. gained 22%, XPeng, NIO Inc. , iQiyi Inc. , KE Holdings Inc. and Vipshop rose over 10%.
China will implement a more proactive fiscal policy and step up "unconventional" counter-cyclical adjustments, Xinhua reported, citing the Politburo.
China must also "vigorously" boost consumption and expand domestic demand "in all directions", Xinhua said.
The remarks came from an official readout of a meeting of top Communist Party officials, the Politburo, and before the annual Central Economic Work Conference later this week to set key targets and policy intentions for next year.
In 2025, authorities must adhere to "the principle of pursuing progress while maintaining stability", leveraging progress to ensure stability and drive innovation, Xinhua said.
"A more proactive fiscal policy and an appropriately loose monetary policy should be implemented, enhancing and refining the policy toolkit, strengthening extraordinary counter-cyclical adjustments," it said.
The new wording for the monetary policy marks the first easing of the stance since late 2010, according to official announcements on the Politburo meetings.
The central bank has outlined five policy stances - “loose”, “appropriately loose”, “prudent”, “appropriately tight” and “tight” - with flexibility on either side of each.
China adopted an “appropriately loose” monetary policy after the 2008 global financial crisis, before switching to “prudent” in late 2010.
免责声明:投资有风险,本文并非投资建议,以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请,作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考,不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证,投资者应自行研究并在投资前寻求专业建议。