话题：有望实现政策转变 Passage 1 Solid moves expected to deliver policy shift. For the first time in 14 years, China 1.____ (shift) its stance to a “moderately loose” monetary policy for 2025. This decision signals a strong commitment to reinvigorating growth, yet it also sparks a debate on 2.____ policymakers will overcome challenges in policy adjustments to make this shift effective. Economists and policy researchers said the government 3.____ (adopt) decisive strategies. Bigger cuts to interest rates and banks' required reserves are on the horizon. The aim is 4.____ (prioritize) boosting domestic demand and restoring market confidence, coupled with strengthened expectation guidance to prevent any sharp depreciation of the yuan. Beyond the conventional approaches, new tools are being introduced to improve policy efficiency and expand room for maneuvers. These include expanding central bank purchases of government bonds and extending targeted support for real estate, the stock market and consumption, according to policy researchers. The measures are designed to overcome the hurdles 5.____ (face) macroeconomic policy adjustments. The scope for conventional monetary easing has narrowed over time, especially as a strong US dollar is putting pressure 6.____ the Chinese yuan. Meanwhile, the effect of easing moves in boosting borrowing could be eroded by subdued consumer sentiment 7.____ (amid) housing price adjustments. By strengthening the potency of monetary easing in a multipronged manner, the unfolding policy pivot can deliver real economic momentum against domestic and external headwinds. Both economic growth and the yuan are expected 8.____ (strengthen) in the second half of 2025, experts said. Referring to the shift announced during the tone - setting annual Central Economic Work Conference held in December, Luo Zhiheng, chief economist at Yuekai Securities, told China Daily that the change in monetary policy stance from “prudent” to “moderately loose” for the first time in 14 years carries “significant implications”. This policy shift 9.____ (reiterate) by the People's Bank of China. The central bank said in a meeting statement on Friday that it will cut interest rates and the reserve requirement ratio — the proportion of deposits banks must keep as reserves — at an appropriate time, as part of its efforts 10.____ (increase) the intensity of monetary policy adjustments. 答案： has shifted how is adopting to prioritize facing on amid to strengthen was reiterated to increase Passage 2 The PBOC's statement also mentioned the need to balance easing moves with yuan stability. It vowed to stabilize market expectations, firmly prevent one - sided foreign exchange market expectations from arising and self - reinforcing, and maintain the yuan exchange rate at 1.____ generally stable, reasonable and balanced level. Luo said the ultimate support for the Chinese currency will be improvements in economic fundamentals. So, 2.___(cut) 2.cutting in ... ...
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