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