China has announced plans to boost its budget deficit, increase borrowing, and implement looser monetary policies to support stable economic growth amidst escalating trade tensions with the United States. The decision was made during the Central Economic Work Conference, an annual meeting of China's top leaders held on December 11-12.
The country's economy is facing challenges such as a property market crisis, high local government debt, and weak domestic demand. With exports under threat from potential higher US tariffs, China is taking proactive steps to mitigate the impact of external uncertainties.
