Home » Business » China could move to a more realistic approach to Covid-19, focus on Politburo meeting – Bloomberg

China could move to a more realistic approach to Covid-19, focus on Politburo meeting – Bloomberg

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.

Recovery ahead

China’s economic growth is expected to slow this year before recovering in 2023

Source: National Bureau of Statistics, Bloomberg Poll of Economists

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.

video" data-image-size="full" data-align="center" class="paywall">
video-player">
video-player__curtain">

video-player__overlay" data-playerid="player-jZzsT80">

The governor of the People’s Bank of China, Yi, speaks

Source: BOT-BIS

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.