China stresses plans to boost growth at top agenda-setting meeting [Video]

BEIJING, CHINA – NOVEMBER 9: Chinese President Xi Jinping attends a meeting with Indonesian President Prabowo Subianto (not pictured) at the Great Hall of the People on November 9, 2024 in Beijing, China.

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China affirmed its recent policy shifts and stressed plans to boost growth in a high-level economic planning meeting that wrapped up Thursday, according to a daily evening news broadcast on state-run CCTV.

The report came after the close of the mainland China market. The iShares China Large-Cap ETF (FXI) rose by 0.8% in premarket trading, before paring gains.

The annual economic planning conference, led by Chinese President Xi Jinping, called for proactive fiscal policy, as well as increasing the deficit and issuing more ultra-long bonds next year, according to the state media report. It added that the meeting also affirmed plans for China to moderately loosen monetary policy, such as by lowering interest rates.

That sentiment echoed a high-level Monday meeting of the Politburo, the second-highest circle of power in the …