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China’s leaders target risks over growth in countdown to Winter Olympics
- Politburo says it aims to keep economy expanding at ‘reasonable rate’ through continued stable macro policy
- The external environment is more complex and severe, and the domestic economic recovery is still unstable and uneven, it says
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China’s leaders have called on the country to start looking ahead to economic challenges in 2022, aiming to keep the world’s second-biggest economy growing at a “reasonable range” for the rest of the year as it prepares to host the Winter Olympics and hold two major political gatherings.
In a statement after a meeting on Friday, the Communist Party’s 25-member Politburo, chaired by President Xi Jinping, said it had reaffirmed its plans to maintain the “continuity, stability and sustainability of macro policies” for the rest of the year.
Apart from the Winter Olympics, Beijing will next year host the party’s 20th Congress, a gathering that is expected to usher in a leadership reshuffle.
The sixth plenum of the 19th Congress is also expected to be held later this year but the Politburo stopped short of saying on Friday when this would take place.
The plenum is the most important annual political meeting, which the party uses to roll out its next economic and social development plans.
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China’s economy rose 7.9 per cent year on year in the second quarter of 2021
China’s economy rose 7.9 per cent year on year in the second quarter of 2021
In the statement on Friday, the Politburo warned the pace of recovery would likely moderate in the second half of the year, mirroring the forecasts of analysts and economists.
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