China's acknowledgement of 'wave-shaped' and 'zigzag' economic performance and its determination to refine property, debt relief and capital market policies have raised hopes that it will introduce more proactive policies in the coming months. While most economists ruled out so-called bazooka-like stimulus, Monday's Politburo statement also raised questions about what policymakers will do to shore up the sputtering post-pandemic economic recovery. According to a statement released by the prime decision-making body of China's Communist Party, policymakers acknowledged a more challenging macro environment and pledged to 'strengthen countercyclical support'.

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