The State Council called for a package of targeted incremental fiscal measures,
optimization of fiscal spending and full use of remaining local government debt
quotas. It urged comprehensive deployment and timely adjustment of monetary
policy tools and higher relative quotas for tech innovation, technology
upgrades, agriculture and small firms. The council requested study and
introduction of measures to stabilize the property market and support employment
and incomes. Authorities were told to coordinate to stabilize investment by
accelerating project preparation, mobilizing private capital, securing project
inputs and speeding approvals. Beijing will continue to design reserve policies
to bolster domestic demand, prioritize high-multiplier initiatives, improve
supporting measures and allow qualified localities to pilot ahead.
