Chinese economy still faces many difficulties and challengesNeed to treat difficulties properly and affirm confidenceUnfavourable impact brought by external environment has become severeWill deepen reforms and pursue high quality development in 2025Will expand domestic demandMust coordinate relationship between overall supply and demandWill implement more proactive macro policiesWill implement cuts to interest rates and reserve requirement ratiosTo take forceful measures to boost consumption and expand domestic demand in all directionsWill stabilise housing and stock marketTo implement appropriately loose monetary policyWill coordinate and push forward with fiscal and tax reforms
It’s all high-level commentary from China once again following one of their most important economic meetings in setting out targets for next year. As for the headline remark, it is well expected after Xi boasted about that already here earlier this week. Much of the other commentary isn’t anything new as Chinese officials have got their work cut for them in trying to revive domestic demand in the country, as has been the case for the last few years.
This article was written by Justin Low at www.forexlive.com.
