China loosens fiscal policy to boost domestic demand next year

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China will employ “more active” policies to boost domestic demand in 2025, including a looser monetary policy and a more proactive fiscal policy, the Communist Party’s politburo said on Monday. The statement from the party’s top 24 officials, chaired by Xi Jinping, comes amid signs that stimulus measures introduced in recent months have failed to persuade consumers to spend. “A more proactive fiscal policy and an appropriately loose monetary policy should be implemented, enhancing and refining the policy toolkit, strengthening extraordinary countercyclical adjustments,” the politburo said. “It is necessary to vigorously boost consumption, improve investment efficiency and expand domestic demand...