Chinese leaders concluded a two-day planning meeting in Beijing with commitments to invigorate the world's second-largest economy. However, specific details on new stimulus measures were not disclosed. The state-run CCTV report highlighted a strategy outlined earlier in the week after a session of the ruling Communist Party’s powerful Politburo. Leaders vowed to adopt a more proactive fiscal approach and loosen monetary policy.
Market optimism in China has risen recently amid expectations of increased stimulus to address weak consumer spending, which has caused the economy to grow slightly below the government's target of about 5% this year. The shift towards a 'moderately loose' monetary policy marks a departure from the cautious 'prudent' approach maintained for the past decade post the global financial crisis.
