China's Politburo Announces Shift in Monetary Policy

In a significant move, China's Politburo has pledged to adopt a "moderately loose" monetary policy and a more proactive fiscal approach next year. This marks the first change in China's monetary policy stance since 2011, signaling a strategic shift aimed at boosting economic consumption and stabilizing the struggling real estate sector.

The government's top decision-making body also emphasized the importance of stabilizing the stock market while strengthening "unconventional countercyclical" adjustments to improve citizens' livelihoods. This approach is expected to provide a much-needed boost to the economy and address key challenges in the real estate and financial sectors.