Chinese Leadership: "Next Year Marks the First Year of Coordinating Epidemic Control and Economy... Implementation of Domestic Demand Expansion Strategy"

President Xi Jinping Presides Over Central Politburo Meeting

[Image source=Yonhap News]

[Asia Economy Beijing=Special Correspondent Kim Hyunjung] The Chinese leadership has declared 2023 as the inaugural year for coordinating epidemic prevention and the economy, and announced plans to implement a domestic demand expansion strategy.

According to local media including the state-run Xinhua News Agency on the 7th, President Xi Jinping presided over a meeting of the Communist Party Central Political Bureau the previous day to discuss these matters. At the meeting, the leadership stated that they will continue to adhere to the principle of "stability first, seeking progress while maintaining stability" (Wenzi Dangtou, Wenzhong Qiujin, 穩字當頭, 穩中求進) in the coming year.

Furthermore, they emphasized that next year will be the inaugural year for fully implementing the spirit of the Party's 20th National Congress, as well as an important period for coordinating economic growth and epidemic prevention. In particular, they stated, "We will better coordinate epidemic prevention and control with economic and social development, comprehensively deepen reform and opening-up to boost market confidence, and implement a domestic demand expansion strategy."

They also said, "Focusing on growth, employment, and price stability, we will effectively prevent and mitigate major risks to promote overall improvement in economic operations," and stressed, "We must achieve effective qualitative improvement and reasonable quantitative growth to establish a solid foundation." They added, "A prudent monetary policy should be implemented to enable consumption to play its fundamental role and investment its core role," and further noted, "We should promote a higher level of opening-up to the outside world and make greater efforts to attract and utilize foreign investment."

This content was produced with the assistance of AI translation services.