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 starting next year. This marks the first change in China's monetary policy stance since 2011, aiming to boost economic consumption and stabilize the struggling real estate sector.

The government's top decision-making body also emphasized the importance of stabilizing the stock market and strengthening 'unconventional countercyclical' adjustments to improve citizens' livelihoods. This strategic shift reflects the government's commitment to navigating the complexities of the current economic landscape and fostering sustainable growth.