The Wall Street Journal reported the meeting as "emphasizes tackling long-term problems", and reflects a "realization that debt and investment can no longer power the world’s second-largest economy". It also refers to the monetary and fiscal levers China still pull to help spur growth, and leaders' will to proceed with reforms.
The financial Times said the country would embrace more "accommodative" fiscal and monetary policies to sustain growth. That may lead to more government spending and a larger deficit. And growth is needed for the structural reforms to be carried out. The report also paid attention to lowering companies' burdens and cutting unsold housing.
Bloomberg reports say that the tone on various policies are dovish, so expect looser monetary and fiscal policies next year. Cutting costs for businesses will be a major task next year, and the government should streamline administrative procedures, cut taxes and fees, and reduce social security contributions to help lower expenses.
The South China Morning Post says China will help rural residents buy properties in towns and cities, with policies to encourage price cuts, and ease restrictions. Fiscal policies will be more forceful and monetary policies more flexible. And decision making will seek a balance between short-term growth stability and long-term structural reforms.
