All articles tagged with #politburo
China's Communist Party has scheduled a key October conclave to discuss the next five-year plan, focusing on economic, political, and social goals amid US tensions, with the event preceding the Apec summit and involving over 370 Central Committee members.
Chinese stocks and Asian equities declined after worse-than-expected inflation data and disappointment over a Politburo meeting. China's benchmark equity index fell as consumer prices experienced the sharpest decline in three years. The drop in stocks may be attributed to the removal of "forceful" wording in China's monetary policy for 2024. The dollar strengthened against major peers. Traders are anticipating key events this week, including US inflation data, a Federal Reserve policy decision, and retail sales numbers. Citigroup economists warn of a deepening deflation situation in China and rising risk of reserve-requirement ratio and/or rate cuts.
China's Politburo, chaired by President Xi Jinping, has vowed to strengthen fiscal support and emphasized the importance of economic progress. The meeting supports economists' expectations for a growth goal of around 5% for next year.
The Chinese politburo has pledged its support for the country's economy, but provided few details on how it plans to do so. The statement comes as China faces increasing economic challenges, including a slowdown in growth and the ongoing trade war with the United States.