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What will be the level of China's foreign exchange reserves by the end of 2025?
2
China•Politburo•Xi Jinping•Xi•Hang Seng Index•Hang Seng Tech Index•United States•Donald Trump•White House
Resolution / Starting Odds
Below $3 trillion • 25%
$3 trillion to $3.5 trillion • 25%
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Reports from the People's Bank of China
Story
China Shifts to 'Moderately Loose' Monetary Policy, Boosts Fiscal Measures; Hang Seng Index Rises
Dec 9, 2024, 08:14 AM
China's top leaders have shifted their monetary policy stance for the first time in 14 years, changing from 'prudent' to 'moderately loose' for next year. At a Politburo meeting led by President Xi Jinping, they announced plans to implement more proactive fiscal policies and moderately loose monetary policies to support economic growth. The change aims to boost consumption forcefully, expand domestic demand in all aspects, and stabilize the property and stock markets. President Xi emphasized the need to maintain strategic focus and actively create a favorable external environment. The Hang Seng Index responded positively, rising 2.76% to close above 20,000 points, while the Hang Seng Tech Index closed up 4.3%. This unprecedented shift comes as China braces for a possible second trade war with the United States under President-elect Donald Trump, who is set to return to the White House next month.
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