Policy shift designed to spur growth, official says

Stable recovery: Li attends a conference in Beijing. The Premier chaired the meeting where it was approved to have localities use special purpose bonds for land reserves and the acquisition of commercial properties for government subsidised housing. — Reuters

BEIJING: China’s shift to a more proactive financial policy and a moderately loose monetary policy next year signals the nation’s resolve to tackle economic challenges head-on and take an active role in spurring growth, says a senior official.

In 2025, China will exercise a more proactive financial policy for the first time, and shift its monetary stance to a moderately loose approach, which marks an end to the 14-year run of a prudent monetary policy, said an official from the Office of the Central Committee for Financial and Economic Affairs.