China will prioritize economic confidence and stability

China will prioritize economic confidence and stabilityThe Chinese central government’s annual economic working conference emphasized that priority should be given to policies aimed at strengthening economic stability and restoring market confidence.At a two-day meeting, Chinese President and Communist Party General Secretary Xi Jinping, as well as government and party leaders, discussed this year’s economic situation and political forecasts for next year, Xinhua news agency reported. a time when the economy has become fragile as COVID-19 restrictions disrupted operations and external conditions worsened. Chinese officials have pointed to the need to maintain control of the epidemic in coordination with the recovery and growth of the economy in line with the new approach to failure from measures related to COVID-19. . At the meeting, where it was assessed that economic stability will be the top priority next year, it was noted that a prudent monetary policy will be maintained with an increase in budget spending.‘5.5% growth seems difficult’The policies discussed at the meeting gave the first clues to the economic policy of the process of getting out of the strict epidemic protection and prevention measures called “zero cases” that China has imposed since the beginning of the epidemic. felt. While the number of cases in the country increased in the autumn due to the spread of highly contagious Omicron subvariants, the continuation of epidemic activities that disrupted economic activity led to losses in production, domestic demand, exports and imports. economic recovery is faltering, it seems difficult to meet the government’s 5.5 percent growth target for this year. The growth rate remained at 3 percent in the first three quarters.