China will hold a key political conference from July 15-18 that has historically been seen as a signal of the direction of the economy, state media reported on Thursday.
A year and a half after restrictions to contain the spread of the new coronavirus ended, China’s recovery is losing momentum, sending a wave of anxiety among the country’s leaders and people.
The third plenary session was initially expected to…
China will hold a key political conference from July 15-18 that has historically been seen as a signal of the direction of the economy, state media reported on Thursday.
A year and a half after coronavirus restrictions ended, China’s recovery is losing momentum, sending a wave of anxiety among the country’s leaders and people.
The third plenary meeting, originally scheduled for last autumn, is highly anticipated as it is expected to clear up any uncertainty and provide further details on China’s leadership’s future strategy.
The meeting will “mainly consider issues related to deepening reform more comprehensively and advancing China’s modernization,” state news agency Xinhua said in announcing the dates.
Officials have made clear they want to restructure the economy around high-tech innovation and domestic consumption.
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But the latter remains stubbornly low as economic uncertainty exacerbates the vicious cycle.
So far, President Xi Jinping’s government has resisted any major economic stimulus package, with the governor of the People’s Bank of China warning last week that there were no such plans.
He said the economy still faced many challenges but that authorities would respond in a measured manner.
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Rev/J/CWL
