Chinese President Xi Jinping has called for 'more proactive' macroeconomic policies for 2025, aiming to stimulate economic growth. This announcement was made during a meeting with a top political advisory body and was reported by state media. In response to these calls, various local governments in China have decided to extend their consumer goods trade-in subsidy policies into 2025 to further boost consumption. The financial markets reacted negatively to these developments, with the FTSE China A50 Index futures falling over 1%, the Hang Seng Index declining more than 2%, and the CSI 300 index dropping by 3%. Additionally, CATL shares fell by more than 1.5%, and the Chinext index also experienced a decline of over 2% on the same day. The Chinese Securities Regulatory Commission has pledged to combat rumors affecting the stock market.