12:06 - 10.12.2024

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December 10, Fineko/abc.az. Next year, China will pursue "moderately soft" monetary policy as part of measures to support economic growth, ABC.AZ reports with reference to the results of the meeting of the Politburo of the Central Committee of the Communist Party.

The authorities will also pursue proactive fiscal policy and strengthen "unconventional" countercyclical transformations, Xinhua news agency informs.

In 2025, the authorities should adhere to the "principle of making progress while maintaining stability", using progress to ensure stability and stimulate innovation, the statement says.

The central bank has identified five policy positions - "soft", "moderately soft", "prudent", "moderately tough" and "tough" - with flexibility on both sides of each of them.

China adopted a "moderately soft" monetary policy after the 2008 global financial crisis, before switching to a "prudent" one at the end of 2010.