CHINA: CEWC Statement Provides Some Detail on Policy, But Inline With Politburo

• "*CHINA HOLDS CENTRAL ECONOMIC WORK CONFERENCE, IMPLEMENT MORE PROACTIVE FISCAL POLICY" - bbg
• "*CHINA SAYS TO MAKE USE OF RRR, INTEREST RATE CUT FLEXIBLY"
• "*CHINA VOWS TO KEEP YUAN EXCHANGE RATE STABLE" - bbg

The Politburo held their December meeting on Monday - so to be expected the Central Economic Work Conference follows a few days later. We already got a readout from the Politburo earlier this week so this is shouldn't be many new details here - but is slightly more specific on policy measures (in particular, the reference to the "use of the RRR and interest rate cuts"), which should all be broadly inline with the fourth plenum.

• Further measures to help support the domestic housing market: "*CHINA ENCOURAGES BUYING EXISTING HOMES FOR SOCIAL HOUSING" - bbg

Worth noting there was no specific reference to stabilizing the real estate or stock market in the Politburo meeting readout (likely reflecting the sharp YTD rally in local equities) - but these headlines suggest there's still concern over stability housing markets, which will continue to receive policy support.