China’s Communist Party leaders have adopted a looser monetary policy stance, marking the first adjustment of this kind in 14 years.

The decision comes as the Politburo, chaired by President Xi Jinping, navigates potential economic hurdles.

This policy shift indicates a move toward fiscal easing, as authorities seek to expand its fiscal spending next year. Officials also pledged to “stabilize property and stock markets.”

It comes amid global economic uncertainties, including the possibility of a second trade war with the United States.