CHINA-ECONOMY: 3-DAY CENTRAL ECONOMIC WORK CONFERENCE EMPHASISES STABILITY
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Xinhua (December 10) reported that the annual Central Economic Work Conference was held in Beijing from December 8 - 10, where Chinese leaders mapped out priorities for the economic work in 2022. In a speech at the conference, Chinese President Xi Jinping reviewed the country's economic work in 2021, analyzed the current economic situation and arranged next year's economic work. A statement issued after the Conference cautioned that China's economic development is facing pressure from demand contraction, supply shocks and weakening expectations, and the external environment is becoming increasingly complicated, grim and uncertain. It said "We must face the difficulties squarely while staying confident." The Central Economic Work Conference said China will continue to implement a “proactive fiscal policy and a prudent monetary policy and some infrastructure investment will be accelerated. It includes long sections on Common Prosperity and about thrift/conservation. The Global Times asserted that stability is a big theme. It said the meeting prioritized stability [稳], a word that was mentioned 25 times , for 2022, vowing to improve people's livelihood, stabilize the macro economy, and maintain social stability. |