China signals it's prepared to double down on support for the economy as Trump tariffs loom

abcnews.go.com:

Chinese leaders met this week to plot economic policy for the coming year and sketched out plans to raise government spending and relax Beijing's monetary policy

BANGKOK — Chinese leaders met this week to plot economic policy for the coming year, sketching out plans to raise government spending and relax Beijing’s monetary policy to encourage more investment and consumer spending.

Leaders of the ruling Communist Party wrapped up their two-day Central Economic Work Conference on Thursday with praise for President Xi Jinping's guidance and a pledge to “enrich and refine the policy toolbox” and defuse risks facing the world's second-largest economy. One of the biggest: threats by President-elect Donald Trump to sharply raise tariffs on imports from China once he takes office.

Here’s a look at the priorities outlined in this week's meetings in Beijing and their potential implications.

Analysts said the broad-brush plans from the annual Central Economic Work Conference and an earlier meeting of the 24-member Politburo were more of a recap of current policy than any ambitious new initiatives.

China's economy has been growing slightly more slowly than the “about 5%” target leaders set for this year as a prolonged crisis in its real estate sector has weighed on business activity. Weaker housing prices and job losses during the COVID-19 pandemic have left many Chinese unable or unwilling to spend as much as they may have in the past. That has meant supplies of many goods outstrip demand, causing prices to fall or at least remain flat.

The government began rolling out a range of initiatives earlier this year that included paying subsidies when people turn in old appliances and vehicles to buy new ones, expanding access to