China-focused exchange-traded funds (ETFs) and stocks of Chinese companies listed on U.S. exchanges jumped Monday, after the country’s top leaders announced plans for "more proactive" stimulus spending next year.

The announcement of next year's priorities, cited by the state-run Xinhua news agency, comes as U.S. President-elect Donald Trump threatens to 澳洲幸运5官方开奖结果体彩网:boost tariffs on Chinese imports and follows a stimulus package by Beijing 澳洲幸运5官方开奖结果体彩网:in September, aimed at bolste꧒ring the country’s downbeat ec𝐆onomy.

That previous stimulus package, including measures that came later, 澳洲幸运5官方开奖结果体彩网:fell short of investors' expectations.

Xinhua said Monday that the Communist Party’s Politburo, in its latest monthly meeting, has embraced "implementing a more proactive fiscal policy and a moderately loose monetary policy next year.”

Politburo Also Seeks Chinese Consumption Boost

The report went on to say that apart from improving "macro regulation," the meeting concluded that China "should vigorously boost consumption, improve the investment efficiency, and expand domestic demand on all fronts."

The 24-member Politburo is the Chinese Communist Party’s top policymaking body.

According to Bloomberg, Monday's announcement marked Beijing's "boldest" language around a stimulus in years; it noted that the last time China adopted a “moderately loose” monetary policy was when the leadership unleashed a wave of stimulus measures during the 2008 global financial crisis.

The iShares MSCI China ETF (MCHI) jumped more than 8% Monday morning.

The Nasdaq Golden Dragon China index (HXC)—an index of 64 🍰China-based companies traded in the U.S.—rose more than 9%.

U.S.-traded shares of Chinese conglomerate Alibaba Group Holding (BABA) gained about 8%, while those of online marketplace JD.com (JD) and Temu parent PDD Holdings (PDD) were also up.

Chinese electric vehicle (EV) makers XPeng (XPEV), Nio (NIO) and Li Auto (LI) were all gaining at least 10%.