China is moving toward a more targeted response for epidemic prevention and control, which may bring more challenges as well as opportunities in the next period.
Next year, the country will pay special attention to ensuring steady growth, employment, and prices, forestall and defuse major risks effectively, and strive to achieve an overall improvement in the country's economic performance, characterized by higher quality and reasonable growth, according to a meeting convened by the Political Bureau of the Communist Party of China Central Committee on Tuesday.
China's economy will still face challenges next year, said Yang Zhiyong, a researcher with the Chinese Academy of Social Sciences. "The meeting urged strengthening policy coordination, which will help maintain policy intensity, and focus on sustained efforts in key areas to ensure steady development and reasonable growth next year.
International Monetary Fund Managing Director Kristalina Georgieva said that they had forecast 3.2 percent growth in China's economy in 2022, improving to 4.4 percent in 2023.
China has fiscal space to boost its economy and counter moving toward a more targeted response for epidemic prevention and control, which could help reduce supply chain interruptions and counteract slowing growth.
the downward pressure, Georgieva said, adding that the country is also looking at moving toward a more targeted response for epidemic prevention and control, which could help reduce supply chain interruptions and counteract slowing growth.
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