Stimulus will help revive China's economy next year

Significance

The CEWC is one of the most important arenas for the top leadership to set the economic policy direction for the coming year. The authorities stopped short of relaxing property sector curbs to shore up growth, however, even as COVID-19 cases are escalating now that restrictions have been dialled back.

Impacts

• Electric vehicles, housing redecoration services and materials, and elderly care will receive policy support to boost spending in 2023.
• Investment in inter-regional infrastructure will be encouraged.
• Self-reliance will remain a prominent theme, especially for energy, agriculture and core technologies.
• The state will encourage imports and stockpiling of energy resources, and advanced technologies such as semiconductor chips and equipment.
• There will be greater policy and financial support for green industries that can help achieve carbon reduction goals.