China vows ‘proactive’ fiscal policy to boost economy in 2024

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Editor’s Note: Sign up for CNN’s Meanwhile in China newsletter, which explores what you need to know about the country’s rise and how it impacts the world. Hong Kong CNN — China has vowed to strengthen fiscal policy in 2024 to boost its flagging economy. The announcement Friday followed a meeting of top Communist party officials and came just days after Moody’s downgraded its outlook on China’s credit rating to negative from stable. The ratings agency on Tuesday cited risks related to “structurally and persistently lower medium-term economic growth,” and ongoing troubles in China’s property sector. Officials at Friday’s meeting,...