Sun. Jan 26th, 2020

Managing economy of China will be a big test for the government as the president vowed to steer the country towards the 2020 milestone of building a well-off society

In a worrying environment created by decelerating growth of China’s economy, rising inflation, as well as, sustained uncertainty whether there will be reduction in tariffs as part of a deal with the US, a number of senior Beijing officials, provincial governors, economic policymakers, as well as, heads of banks owned by state will be gathering for a foremost yearly economic policymaking to meet at the end of this month.

In this meeting, the economic policy priorities for the coming year will be decided inclusive of setting inflation and growth targets, as well as, how much monetary and fiscal stimulus would be required for meeting those goals.

The trade war that has tapped into its seventeenth month with no instant end in sight, will be amongst the many economic issues that will be discussed at the 3-day Central Economic Work Conference at a securely guarded Hotel located in Beijing.

The 2nd largest economy of the world is anticipated to carry on to pursue policies that would balance economic growth with the prevention of risk by the employment of modest measures for supporting growth without resorting to the enormous stimulus seen after the worldwide financial crisis ten years ago.

However, it is being anticipated that the discussion of this month would be inclusive of whether steps must be taken for ensuring the growth rate to remain at either 6 or above it in the coming year, and how to get rid of the nation’s debt issue, as well as, and the aftermaths of a further dissociation of the United States and Chinese economies.

Managing the economy in the coming year will be a huge test for the government for the top leadership of Beijing, led by President Xi Jinping, who has pledged to direct the world’s most populated country towards the 2020 breakthrough of creating a well-off society.