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Chinese Politburo: Prudent monetary policy to be maintained in 2024

The Politburo of the Communist Party of China has released a statement following its meeting on Friday.

Highlighted conclusions

A proactive fiscal policy will continue to be applied in 2024.

Prudent monetary policy will be maintained in 2024.

Proactive fiscal policy will be more forceful and efficient.

Prudent monetary policy will be more flexible and precise.

Countercyclical and procyclical macroeconomic policy will be strengthened.

The resilience and security of industrial supply chains will be improved.

Domestic demand will increase.

Reform will be deepened in key areas.

It will increase the aperture level.

Foreign trade and capital will be stabilized.

It will continue to effectively prevent and combat risks in key areas.

The coherence of macroeconomic policies will be increased.

The fight against corruption will continue to be deepened.

The most prominent industrial, systemic and regional corruption problems will be rectified.

Currently, our country’s economic recovery is still in a critical phase.

Source: Fx Street

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