The Chinese economy has had a difficult 2022, with a GDP growth rate of just 3% in the first three quarters, due to both internal issues and foreign shocks.
The Chinese government set the priorities for economic work in 2023 during the Central Economic Work Conference, which took place in Beijing from December 15 to 16.
Chinese President Xi Jinping assessed the nation’s economic performance in 2022, addressed the present economic environment, and outlined the economic performance for the upcoming year in a significant speech at the conference.
According to a statement from the meeting, the economic recovery’s fundamentals are still in need of stabilisation, and China is still under the triple strain of weak expectations, supply shocks, and contraction demand.
The meeting, in which firm faith in economic work was demanded and tremendous efforts were promised to assure a reasonable growth and good quality, highlighted that “however, we must confirm that our economy has a great capacity for recovery, enormous potential, and robust vitality.”
Prioritizing ensuring stability
The meeting demanded that economic stability be given top priority and that steady advancement be maintained while securing economic stability for the upcoming year.
Stable economic results are essential for an economy the size of China’s. The meeting emphasised that efforts will be made to stabilise growth, employment, and prices in order to keep the key economic indicators within a suitable range.

Source: Prnewswire