12/8/2023, 10:00 AM (Source: TeleTrader)
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China's Politburo vows to expand domestic demand

Chinese President Xi Jinping chaired on Friday a meeting of the Political Bureau of the Central Committee of the Communist Party of China to discuss economic issues. The Politburo agreed to keep monetary policy "flexible, appropriate, targeted, and effective" next year and to "proactively" strengthen fiscal policy as appropriate. It also vowed to expand domestic demand and improve the resilience and security of industrial supply chains.

The Politburo also said it will boost "counter-cyclical and cross-cyclical macroeconomic policy" as well as "enhance the consistency" of macroeconomic policies. It promised it will carry on and deepen reforms in key areas, including "industrial, systemic and regional" corruption issues, while it continues its policy of "opening up."

Baha Breaking News (BBN) / DJ