Chinese stocks experienced significant declines on Friday, following a key economic conference that failed to meet investor expectations. The CSI 300 Index, a benchmark for Chinese stocks, fell nearly 2% to close at 3,933.18 points, marking its lowest level since Monday. This drop came after the Central Economic Work Conference (CEWC) on December 12, where the government outlined policy guidelines aimed at raising consumption and boosting the birth rate for 2025. However, the lack of concrete measures to address the economic slowdown and the ongoing property crisis led to investor disappointment. Concurrently, long-term bond yields in China hit record lows, with the 30-year government bond yield dropping to 1.9999%, reflecting concerns over future economic growth. The Hang Seng Index in Hong Kong also closed down 2.09% at 19,971.24, with the tech sector particularly hard-hit, dropping over 3%.