Beijing Vows Action on Economy Amid Investor Hopes for Bold Moves [Video]

Chinese leaders in Beijing have pledged to take bold steps toward bolstering the country’s economy by loosening monetary policy and adopting a more proactive fiscal approach.

They made the decision during a two-day meeting that concluded on Thursday with high-level discussions from the ruling Communist Party’s Politburo.

The country’s state-run CCTV channel reported that the meeting echoed previous statements from the Politburo earlier this week.

While the broad promises have renewed market optimism, investors have been hoping for more substantial, immediate actions to address weak consumer spending and help the economy meet its official growth target of around five percent.

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