China's Politburo, the nation's top decision-making body, convened to address significant economic challenges, focusing on high-risk cities' debt burdens, the housing market crisis, and economic support through financial tools. Key measures discussed include the utilization of ultra-long bonds, interest rates, and the reserve requirement ratio (RRR). These strategies aim to absorb housing stockpiles and support the ailing property sector, marking the first mention of such financial tools since April 2020.
🇨🇳 #China’s Leaders Hint at New Plan to Fix Biggest Drag on Economy – Bloomberg https://t.co/BhOM0878rp https://t.co/RoBuVDBXZg
"House Destocking": China Politburo Hints New PLan To Fix BIggest Drag On The Economy https://t.co/89zVmFh5cs
China’s Politburo, the country’s top decision-making body, pledged efforts to support the ailing property market and hinted at new measures to tackle the protracted crisis at its monthly meeting Tuesday https://t.co/7keMGhbhTF
🇨🇳China’s Leaders Hint at New Plan to Fix Biggest Drag on Economy “Those tools outlined by the 24-man Politburo included interest rates and the reserve requirement ratio…first time a readout had mentioned either policy tool since April 2020” https://t.co/fXKJ7P0NjR https://t.co/ZHfTPRrxRw
#China's Politburo meeting highlights: 🔸To decide on economic works in July meeting. 🔸Make good use of ultra-long bonds ASAP. 🔸To ensure high-risk cities can reduce debt burden. 🔸To study absorbing housing stockpiles. 🔸Use interest rate & RRR tools to support the economy.