Economic Data Shows Weakness, Policy Shifts Considered
Authorities prefer fiscal measures over monetary, with Central Economic Work Conference pledging proactive fiscal policy.
November data shows retail sales up 1.3%, industrial production 4.8%, both below forecasts due to property sector weakness.
Household borrowing and mortgage demand face pressure as new loans rose less than expected, with LPRs affecting loans and mortgages, and banks facing low profit margins.
Market watchers suggest Beijing may delay stimulus until next year due to cross-cyclical policies and low profit margins, with fixed asset investments down 2.6%.