China promises to implement more aggressive fiscal stimulus and slightly looser monetary policy.

China promises to implement more aggressive fiscal stimulus and slightly looser monetary policy.
China promises to implement more aggressive fiscal stimulus and slightly looser monetary policy.

The Chinese government announced plans for "more proactive" fiscal measures and "moderately" looser monetary policy in 2021 to increase domestic consumption, as outlined in a key policy meeting.

The Politburo, headed by President Xi Jinping, announced plans to stabilize property and stock markets while increasing the "unconventional counter-cyclical" adjustment, according to the Communist Party's CNBC-translated statement.

This breaking news story is being updated.

by Anniek Bao

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