Unpacking China's economy

China's economy is set for a major shake-up in 2025. China stressed plans to boost growth in a high-level economic planning meeting that wrapped up last Thursday. The annual meeting noted that the Chinese economy has posted generally stable performance while making progress in 2024, but also recognized the need to face up to the difficulties. For next year, the meeting called for a proactive fiscal policy and affirmed plans to moderately loosen monetary policy. Why has China decided to ramp up policy stimulus? What obstacles and challenges can we expect? What signals does this send and where is China's economy headed in 2025?