China's state media is reporting
- To keep proactive fiscal policy next year
- To stick to structural deleveraging
- To adopt more significant tax, fee cuts
- Aims to boost market confidence next year
- Will keep economic operation within reasonable range next year
Of note, they have left out the wording of 'neutral' from the monetary policy description there. The announcement is coming after China ends their 2019 policy discussion meeting as noted last week here.
The good news is that they seem determined to keep growth stable and find measures to boost the economy, saying that they would cut taxes and fees on a larger scale. That's some positive for the aussie but let's see how these measures will impact economic data before judging.
