The Politburo, the top decision-making body of the Communist Party of China, at a meeting on Monday vowed to implement more proactive fiscal policy and moderately loose monetary policy in 2025.
Notably, prior to the latest remarks of “moderately loose” monetary policy, China’s leadership had used the expression of “prudent” monetary policy for 14 years.
China will expand high-level opening-up, expand high-level opening-up, build a modern industrial system, better balance development and security, implement more proactive and effective macroeconomic policies, boost domestic demand, promote the integration of technological innovation and industrial innovation, stabilize the real estate and stock markets, prevent and mitigate risks in key areas and external shocks, stabilize expectations, and energize the economy, it said.
The measures aim to drive sustained economic recovery and improvement, continually enhance people’s living standards, maintain social harmony and stability, and ensure the high-quality completion of the “14th Five-Year Plan” goals, laying a solid foundation for a successful start to the “15th Five-Year Plan,” it said.
The Politburo vowed to enrich and improve the policy toolkit, strengthen extraordinary counter-cyclical adjustments, and utilize a policy combination to make the macro adjustments more forward-looking, targeted and effective.
The meeting highlighted the importance of boosting consumption, improving investment efficiency, and expanding domestic demand across the board, and stressed promoting the development of new productive forces through technological innovation and building a modern industrial system.
It also stressed consolidating and expanding the achievements of poverty alleviation, promote new urbanization, and comprehensively revitalize rural areas to foster integrated urban-rural development.
The leadership called for intensified implementation of regional strategies to enhance vitality of the regional development, and coordinated efforts to reduce carbon emissions, cut pollution, and promote green growth.
Furthermore, it stressed the importance of improving the protection and well-being of the people, enhancing their sense of security, happiness, and well-being.
