December Politburo meeting ahead of the Central Economic Work Conference (CEWC)

The Politburo met Monday, and while there was no announcement of the Central Economic Work Conference this meeting usually signals the CEWC will convene in the next couple of days.

The headline of the readout is “CPC Central Committee Political Bureau Holds Meeting to Analyze and Research 2025 Economic Work, Study and Deploy Party Conduct, Clean Governance and Anti-Corruption Work, CPC General Secretary Xi Jinping Presides Over Meeting -中共中央政治局召开会议 分析研究2025年经济工作 研究部署党风廉政建设和反腐败工作 中共中央总书记习近平主持会议”.

I have done a quick translation of the official readout and highlighted several terms that seem interesting. Hong Kong stock market investors got very excited after the release of the readout, I think because of language like:

• “implement more active macro policies, expand domestic demand”;

• “stabilize the real estate and stock markets”;

• “We should implement more active fiscal policy and moderately loose monetary policy, enrich and improve the policy toolbox, strengthen counter-cyclical regulation …