'If China doesn't do something, the world economy will end.'
In a closed session of China's Central Economic Work Conference, President Xi Jinping and top officials will discuss the country's economic agenda for the 2023 fiscal year.
Among the agendas that will be presented are the determination of measures to stimulate economic growth, fiscal spending that will be expanded for infrastructure and other programs and the potential for monetary easing.
Also on the agenda is the issue of easing China's Covid-19 restrictions that have seen a recent surge in cases in Beijing, putting pressure on a fragile health care system.
The annual conference, which is often held near the end of the year, does not have a publicly announced schedule although it does discuss any potential policy for the new year.
For now, economists and investors continue to puzzle over vague policies and unclear media information regarding the Covid situation as well as the government's stimulus measures to preserve its economic growth.
As far as is known, the growth of the world's 2nd economic power grew only 3% for the first 3 quarters of this year, below the market's 5.5% projection, and the last quarter is also expected to be unchanged.
It was limited by the Covid restrictions which led to many lockdown implementations thus restricting production and reducing consumer spending, in addition to impacting China's main sector which is real estate.
Meanwhile, China's internal dilemma has seen government advisers put the 2023 growth target at 4.5%-5.5% while its central bank advisers set it below 5%.
