China’s Politburo, the country’s top leadership, held a meeting on Thursday, with the key highlights noted below.
Analysed current economic situation and work, plan for future economic works.
Will step up the force of counter-cyclical adjustments of fiscal and monetary policies.
Fundamentals of china's economy and the favorable conditions such as broad market, strong economic resilience and great potential have not changed.
Will ensure necessary fiscal spending.
Will increase the income of low- and middle-income groups and improve the consumption structure.
Will strive to achieve full-year economic, social development targets and tasks.
At present, there are some new conditions and problems in economic operation.
The quality of real estate market should be improved, and 'white list' project loans should be increased.
Will make efforts to stop the falls in property market to get it stabilised.
Will strictly control the new amounts of commercial homes construction.
Will increase efforts to attract and stabilize investment.
Necessary to support and regulate the development of social forces in the old-age care and childcare industries.
Will pay close attention to improving the system of childbirth support policies.
Will strive to stimulate capital market, make great efforts to guide mid- to long-term capital enter the market.
Will attract and stabilize investment, step up the promotion and implementation of reform measures such as foreign investment access in the manufacturing sector.
Will focus on employment of key groups such as fresh college graduates, rural migrant workers.
Will study and roll out policy measures to protect small and medium-sized investors.
It is necessary to do a good job in ensuring the supply and stable prices of food, water, electricity, heat, and other important materials.
Will introduce private economy promotion law to create positive environment for non-public sector economic development.
Market reaction
The Australian Dollar is holding higher ground following these Chinese headlines, with AUD/USD adding 0.43% on the day to trade near 0.6850, as of writing.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD extends losses to near 1.1150 on increased dovish ECB bets
EUR/USD accelerates decline to near 1.1150 in European trading on Friday. Softer French inflation data ramped up Oct ECB rate cut bets, weighing on the Euro. However, the downside could be cushioned by the renewed US Dollar weakness, as US PCE inflation looms.
USD/JPY slides 1% toward 143.00 as Ishiba wins LDP leadership race
USD/JPY is seeing a fresh sell-off toward 143.00 in the European session on Friday. The pair loses over 300 pips, as the Japanese Yen rebounds on Shigeru Ishiba's win in the LDP leadership run-off. Sanae Takaichi, who favored keeping interest rates lower, was expected to win the race.
Gold correction remains in the offing amid month/quarter-end flows
Gold price treads water while within a striking distance of the new record high of $2,686, as buyers take a breather and consolidate the weekly gains in the countdown to the US Personal Consumption Expenditures Price Index data release later on Friday.
US core PCE set to show continued disinflation trend, reinforcing Federal Reserve easing cycle
The core Personal Consumption Expenditures Price Index is seen rising 0.2% MoM and 2.7% YoY in August. Markets have already priced in near 50 bps of easing in the next two Federal Reserve meetings. A firm PCE result is unlikely to move the Fed’s stance on policy.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.