China's State Council is a very big deal. Chaired by the Premier, its the cabinet basically.
On par with the Communist Party and the PLA
Anyway, a statement issued by the Council's Financial Stability and Development Commission
- To make positive use of fiscal policy
- Will continue to crack down on illegal financial activities, institutions
- Will balance stabilising growth and risk prevention
- Current macro leverage levels for China stabilising
- External uncertainties increasing
- Need to pay more attention of monetary policy transmission to real economy
via Reuters
The first and final two of those headlines the important ones (IMO). They will not sit by if the economy suffers due to the external uncertainties weighing right now. Fiscal, monetary policy on the table.
