After abruptly abandoning the dynamic reset, Chinese leaders said they would focus on restoring growth momentum next year. It is a strong signal that the Chinese government is eager to turn around the economy.
At the annual Central Economic Work Conference that ended on Friday, Chinese leaders called for stabilizing the economy by boosting domestic demand and hinted at further policy easing that has dampened the real estate sector and discouraged investment by companies private. Chinese President Xi Jinping attended the meeting.
According to news released by China Central Television, Chinese leaders said during the two-day closed-door meeting that they will strive to achieve effective quality improvement and reasonable growth of China’s economy in 2023. Chinese leaders usually set economic growth targets for next year at the annual Central Economic Work Conference, but detailed targets will not be announced until next March at the National People’s Congress.
Chinese leaders have pledged broad support to boost economic growth next year. The Wall Street Journal (The…
