Citing Chinese state media, Reuters is reporting headlines from China’s annual Central Economic Work Conference.
Key takeaways
“Foundation for China’s economic recovery is not solid.”
“China’s economy faces relatively big pressures from shrinking demand, supply shock and weakening expectations.”
“China will implement prudent monetary policy in 2023.”
“China will implement proactive fiscal policy in 2023.”
“China’s monetary policy will be precise and forceful.”
“China will keep liquidity reasonably ample.”
“China should better coordinate epidemic prevention and control and economic and social development.”
“China will step up macro economic adjustments, strengthen policy coordination.”
“China will expand domestic demand, prioritise consumption recovery.”
“China will continue to give full play to the role of exports in supporting the economy.”
“Housing is for living, not for speculation.”
“China will ensure healthy development of property market.”
“China will meet reasonable financing needs of the property industry.”
“China will effectively prevent and mitigate the risks of high-quality leading property developers.”
“China will support rigid and improved housing demand.”
“China will encourage private investment in key investment projects.”
“China will safeguard bottom lines for preventing systemic risks.”
Market reaction
Markets remain risk-averse with the US stock index futures losing around 1% following these comments.
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