China will intensify political adjustments to support economic recovery in 2024, state media said on Tuesday, following a meeting of the country’s top leaders in which the agenda was set.
Investors are closely watching for clues about next year’s policy and reform agenda as Beijing has been struggling to drive a post-pandemic economic recovery amid a deep housing crisis and rising government debt. local.
China will focus on boosting effective demand next year and make concerted efforts to expand domestic demand, state media said, citing the Central Economic Work Conference annual, held from December 11 to 12, during which senior leaders established economic objectives for 2024.
China will reinforce countercyclical and procyclical macroeconomic adjustments, according to state media.
“To continue promoting economic recovery, we have to overcome some difficulties and challenges”state media said. “The main problems are insufficient effective demand, excess capacity in some industries, weak public expectations and many hidden risks.”.
China will maintain a proactive fiscal policy and prudent monetary policy next year, according to state media.
He Politburohighest decision-making body of the ruler Communist Partydeclared on Friday that fiscal policy will be moderately strengthened and will be “flexible, moderate, precise and effective” to help drive economic recovery.
The authorities “will consolidate and enhance economic recovery”, with the aim of achieving reasonable economic growth next year, emphasizing higher quality expansion, according to state media.
Source: Gestion
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