China's Politburo Calls for More Proactive Fiscal Policy but Avoids Broad Consumer Stimulus

China's top political body, the Politburo, has signaled a cautious approach to supporting the stumbling economy by calling for more proactive fiscal policies while refraining from approving broad stimulus for consumer spending. In a statement released after a regular meeting, the Politburo emphasized the need for proactive tax and expenditure measures, but did not commit to large-scale actions to boost household consumption, which remains one of the weakest links in the economy. This stance suggests a balancing act between stimulating growth and managing financial risks, as policymakers avoid aggressive stimulus that could lead to higher debt levels. The announcement follows a series of disappointing economic data, but the lack of concrete steps to spur consumer demand indicates that authorities prefer a gradual, targeted approach rather than sweeping measures. Markets now await further details on specific fiscal initiatives that may be rolled out in the coming months.