The Communist Party of China leadership is likely to take a more pragmatic approach to dealing with the novel coronavirus.
Twenty-four new Politburo members were elected after the party congress in October. The Politburo typically holds a meeting in early December to outline broad economic policy guidelines for next year, with decisions made at that time materializing at the Central Economic Work Conference, usually held within a week .
Policy targets such as the annual growth rate of gross domestic product (GDP) will be announced at the National People’s Congress in March of the following year.
Investors are interested in the balance between the “zero coronavirus” policy, which completely suppresses the coronavirus, and economic growth. The zero-coronavirus policy is General Secretary Xi Jinping’s (President) policy, but the lockdowns (city lockdowns) and large-scale mass inspections have had a huge impact on people’s economic activities and lives.
“Right now, our focus is growth,” People’s Bank of China (PBOC) Governor Yi Gang said in a video address to a central bank meeting in Bangkok on Thursday, pledging to support economic recovery and the creation of jobs. accommodating,” he said.
“We expect China’s policy stance to remain growth-focused in 2023, particularly in the first half of the year,” said Carlos Casanova, senior economist for Asia at Union Banker Privé (UBP) in Hong Kong.
The politburo meeting, expected to take place soon, will be the second since Xi entered an unusual third term and the first politburo meeting under the new regime to focus on economic issues.
Original title:China may signal shift from politics to economy from Covid Zero (1)、China’s central bank governor says focus is now on growth (1)(extract)