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China held a Politburo meeting on July 30th (as expected); to hold fifth plenum in October

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China's Politburo targets domestic demand and property stability amid slowing growth. The upcoming October plenum will define the 2026-2030 strategy, supported by accelerated fiscal spending and a 4% deficit target.

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To continue comprehensive rectification of involuntary competition. To comprehensively use and timely adjust monetary policy tools. To stabilise production and prices of hogs and other farm products. To speed up use of fiscal expenditure and bonds. To stabilise property market. To explore potential of service consumption. To optimise supply Too improve efficiency of macro policies. To boost domestic demand.

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