China Pledges to Meet Economic Goals as Recovery Takes Hold
(Bloomberg) — With China’s economic recovery from the pandemic gathering pace, the nation’s top leaders vowed to ensure that the nation achieves its economic and social development goals this year.
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The government in Beijing will push for “the overall improvement of economic activity” and effectively improve the quality and reasonably grow the quantity of the economy, state media CCTV reported, citing a Politburo meeting held on Tuesday. The statement reiterated that China will continue to implement proactive fiscal policy and prudent monetary policy, and also strengthen the coordination of various policies.
The meeting largely repeats the vision laid out by President Xi Jinping in a December speech, which include the need to focus on expanding domestic demand, implementing the “two unwaverings” policy, making greater effort to attract and utilize foreign capital, and effectively preventing and resolving major economic and financial risks.
China’s top leaders and government officials are set to convene in March at the annual National People’s Congress, where the official economic targets for the year will be announced and then formally approved. Ahead of that, the second plenum of the central committee of the Communist Party will meet on 26-28 February, according to the statement.
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