China has emphasized its intention to promote growth in the agenda-setting meeting

China confirmed the latest policy changes and underlined plans to boost growth at a high-level economic planning meeting that ended on Thursday, according to state media.

The annual economic work conference followed Monday’s high-level meeting of the Politburo, the ruling Communist Party’s top decision-making body headed by President Xi Jinping.

Politburo he swore In 2025, implement “more proactive” fiscal tools and “moderately loose” monetary policy, while increasing “non-conventional countercyclical adjustments” to boost domestic consumption “on all fronts,” it said. A reading by the state-run Xinhua.

Using language that has not been used since The depth of the global financial crisis In 2008, Beijing expressed greater urgency to boost its ailing economy and prepare for a potential trade war with the US as Donald Trump returns to the White House.

Chinese officials have stepped up stimulus measures since late September, including the introduction of several interest rate cuts, looser property purchase requirements, liquidity support for stock markets and 10 trillion yuan ($1.4 trillion) stimulus package to alleviate the problems of local governments’ debt.

However, the latest economic data indicated that these steps have not proved enough to offset the ongoing deflationary pressure in the economy, raising investor hopes that Beijing will step up stimulus measures to restore growth.

The country’s consumer price inflation fell five-month low in Novemberwhile wholesale price deflation persists, the producer price index is sliding for the 26th consecutive month.

Chinese authorities have reiterated that Beijing plans to boost consumption throughout the year. In terms of policies, little else has been established a grant program to promote trade used electrical appliances and electronic goods.

Although the details and specifics of the policy will only be announced at the National People’s Congress next March, it is expected to take place in Beijing. maintain the GDP growth target for the next year “About 5%”.

Policy makers can also set a larger budget than usual deficit target up to 4% of gross domestic product, some economists predict, would allow for greater central government borrowing to help the struggling economy.

This latest news is being updated.