China will implement more proactive macroeconomic policies in the coming year, and priorities include increasing the fiscal deficit ratio, implementing a moderately loose monetary policy, expanding domestic demand, and stabilizing the real estate and stock markets, according to the annual Central Economic Work Conference held from Wednesday to Thursday.

Xi Jinping, general secretary of the Communist Party of China Central Committee, Chinese president and chairman of the Central Military Commission, delivered an important speech at the conference.

The meeting highlighted this year as pivotal in implementing China's 14th Five-Year Plan, adding that China has made solid progress in high-quality development and is about to accomplish this year's growth target.

It was also made clear that the external environment has exerted a more adverse impact on China's development. However, it emphasized that the long-term outlook has not changed, urging stronger confidence.

The meeting called for more efforts in high-quality development, deepening reform, expanding opening up and fostering a modern industrial system in 2025.

It also urged more proactive macroeconomic policies to shore up domestic demand, integrate tech innovations into industries and stabilize the property market.

As 2025 marks the final year of the 14th Five-Year Plan, it was also noted that China will endeavor to boost the economy as sound preparation for the beginning of the next five-year plan.

The meeting also highlighted that China will strengthen unconventional countercyclical adjustments in 2025.

It was noted that China will also implement a more proactive fiscal policy, including an increase in the ratio of deficit and in the issuance of ultra-long special treasury bonds and local government special-purpose bonds.

According to the meeting, China will steer to a moderately loose monetary policy in 2025, which includes a decrease in required reserve ratios and interest rates when necessary to ensure adequate liquidity.

The leadership also called for coordination between fiscal policy, monetary policy and policies in employment, industries, trade and environmental protection.