Via Zero Hedge:
Back to the Politburo statement which found that proactive fiscal policy should improve effectiveness and efficiency, “while prudent monetary policy should be appropriate in terms of looseness and tightness.” A notable change from the October, December and February meetings, is that there was no mention of the goal of maintaining “6 stabilizations” (on employment, trade, financial markets, investment, foreign capital, and expectations). This suggests that Beijing is now less worried about weakness in these areas, and the likelihood of aggressive easing has sharply declined.
Here is a recap of the three key highlights announced in the meeting, courtesy of Morgan Stanley: