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Chinese leaders pledge 'moderately loose' monetary policy, more support for slowing economy

China’s top leaders have pledged to loosen monetary policy and provide more support for the slowing economy, while Premier Li Qiang swiped at threats of higher tariffs on Chinese exports, saying they hinder global growth. Shares in Hong Kong jumped Monday after state media released a report on the meeting by the ruling Communist Party’s Politburo that said leaders would “implement more active fiscal policies and moderately loose monetary policies.” The shift to “moderately loose” from the “prudent” monetary policies of the past 14 years was taken as a significant shift by market players, unleashing a spate of buying that pushed the Hang Seng index up 2.8%.

Chinese stocks, yuan stage late rebound on Politburo pledges

(Bloomberg) -- Chinese stocks listed in Hong Kong rebounded in the final hour of trading as the nation’s top leaders vowed to ease monetary policy and expand fiscal spending. Most Read from BloombergA Chicago Skyscraper Cements the Legacy of a Visionary Postmodern ArchitectNYC’s Run-Down Bus Terminal Gets Approval for $10 Billion RevampKansas City Looks Back on its Long, Costly Ride With MicrotransitThe Hang Seng China Enterprises Index reversed a small drop to end the day 3.1% higher, it’s bigg

Chinese memory chipmaker YMTC denies back-door listing move amid semiconductor stock surge

Yangtze Memory Technologies Corp (YMTC), China's leading memory chipmaker, has denied it is seeking a back-door listing to take advantage of the frenzy in the country's chip-related stocks amid tighter US tech sanctions. Considered China's best chance to compete in advanced flash memory chips against global leaders Samsung Electronics and SK Hynix, YMTC issued a statement on Sunday saying it "never had any intention of pursuing a back door- listing". The statement was in response to earlier loca