The vaguely worded statement provides important clues about future policy. $BTC

Today, many traders on Wall Street will stay up late to keep a close eye on the performance of the Chinese market. The press release of the meeting on Monday contained some unusual statements, which aroused investors' expectations.

1. Overnight, when the three major US stock indexes fell across the board, Chinese stocks celebrated all night, and the Golden Dragon Index rose by 8.5%. Other markets that rose due to the news from China include crude oil, metals, European luxury goods stocks, and the British pound. It is also necessary to understand why the US stock market fell last night, dragged down by technology stocks. The decline of technology stocks was dragged down to a certain extent by Nvidia's stock price. China announced an antitrust investigation against Nvidia.

2. The meeting that set the general policy tone for next year sent a clear signal of increased policy efforts between the lines.

* Monetary policy stance: Shifted from "prudent" to "moderately loose", suggesting that more monetary easing policies will be introduced in 2025.

* Fiscal policy stance: becomes “more proactive”*

Suggests that the annual growth target of about 5% in 2024 will be achieved

* Another positive signal from the meeting was plans to significantly boost consumption, as markets had previously been concerned that potential stimulus measures would focus on investment.

Goldman Sachs once issued a report predicting that China's fiscal deficit will account for 1.8% of GDP next year, the monetary policy will cut interest rates by 40 basis points, and the real estate industry will also usher in more easing measures.

3. It is highly likely that the Chinese market will rise today, but Wall Street will judge whether the rise can continue based on today's intraday details and the signals sent by the meetings on Wednesday and Thursday this week. The trend of the offshore RMB is also a key point to observe. The news of loose policies would have caused the exchange rate to fall, but yesterday it took a completely opposite trend.

Now what we see is all on paper and investors want to know how much follow-up action will be taken.

Is this time different? Does it herald the beginning of a new round of gains? #亚马逊股东提议比特币投资