It will reduce RRR, implement a forced reduction in interest rates

China’s Politburo, the country’s top leadership, held a meeting on Thursday with the highlights mentioned below.

Analysis of the current economic situation and works, planning of future economic works.

It will intensify the strength of the countercyclical adjustments of fiscal and monetary policies.

The fundamentals of China’s economy and favorable conditions such as the broad market, strong economic resilience and great potential have not changed.

It will ensure the necessary fiscal expenses.

It will increase the income of low and middle income groups and improve the consumption structure.

It will strive to achieve the goals and tasks of economic, social development throughout the year.

Currently, there are some new conditions and problems in the economic operation.

The quality of the real estate market should be improved and loans for “white list” projects should be increased.

It will work to stop the decline of the real estate market to stabilize.

It will strictly control the new building quantities of commercial houses.

It will increase efforts to attract and stabilize investments.

Necessary to support and regulate the development of social forces in the aged care and childcare industries.

It will pay particular attention to the improvement of the policy system for childbirth support.

Will strive to stimulate the capital market, make great efforts to guide medium and long term capital enter the market.

It will attract and stabilize investment, intensify the promotion and implementation of reform measures, such as access to foreign investment in the manufacturing sector.

It will focus on hiring key groups such as recent college graduates, rural migrant workers.

It will study and implement policy measures to protect small and medium investors.

You need to do a good job of ensuring the supply and stable prices of food, water, electricity, heat and other important materials.

It will introduce the private economy promotion law to create a positive environment for the economic development of the non-public sector.

Market reaction

The Australian dollar is holding higher ground following these Chinese titles, with AUD/USD adding 0.43% on the day to trade near 0.6850 at time of writing.