Economic news

China’s Communist party cautious on economy, reiterates party’s leadership

2023.02.28 06:03


© Reuters. FILE PHOTO: Cars move on a street at the Beijing’s Central Business District (CBD), during the morning rush hour following the Chinese Lunar New Year holiday, in Beijing, China, January 30, 2023. REUTERS/Tingshu Wang

BEIJING (Reuters) -The Chinese Communist Party said on Tuesday that the foundation of economic recovery is not yet solid and the unexpected may occur at any time, and it repeated the need for the country to be guided by the party with Xi Jinping at its “core”.

China’s economy grew 3% last year – one of its feeblest rates in nearly half a century – weakened by ultra-strict COVID-19 policies championed by President Xi, but the measures were lifted in December, after which the highly transmissible Omicron strain rapidly spread across the country.

China’s development still faces triple pressures including demand contraction, supply shock and weakened expectations, the Communist Party’s Central Committee said in a communique after a major three-day gathering, according to the official Xinhua News Agency.

China’s “rejuvenation” must be guided by Xi and the Central Committee as national governance is being “modernised”, the committee said in the communique but it offered no details.

“It is necessary to fully, accurately and comprehensively implement a new development concept,” the committee, the largest of the party’s top decision-making bodies, said.

More than 200 members of the Central Committee discussed a draft of reforms to party and state organisations that will be examined at an upcoming session of the National People’s Congress, China’s legislature.

The Central Committee also approved a proposed list of leadership candidates to be recommended at the annual meeting of the largely rubber-stamp parliament, due to open at the Great Hall of the People in the heart of Beijing on Sunday.

At the parliamentary meeting, lawmakers are expected to endorse the next line-up of top government posts in the Cabinet to be headed by a new premier for the next five years.

Xi is also widely expected to secure his third five-year term as president, after clinching a precedent-breaking third party leadership term in October last year.

Xinhua on Sunday praised Xi’s attention to the masses and their livelihoods.

“The leader of the people does not fail the people, and hundreds of millions of people love their leader!” the news agency declared in an article.

Source link

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 98,576.41 0.12%
ethereum
Ethereum (ETH) $ 3,429.60 2.49%
tether
Tether (USDT) $ 1.00 0.06%
solana
Solana (SOL) $ 257.17 0.62%
bnb
BNB (BNB) $ 670.77 0.62%
xrp
XRP (XRP) $ 1.47 5.17%
dogecoin
Dogecoin (DOGE) $ 0.438343 4.96%
usd-coin
USDC (USDC) $ 1.00 0.11%
cardano
Cardano (ADA) $ 1.07 2.09%
staked-ether
Lido Staked Ether (STETH) $ 3,427.58 2.44%
tron
TRON (TRX) $ 0.216641 3.51%
stellar
Stellar (XLM) $ 0.585075 34.46%
avalanche-2
Avalanche (AVAX) $ 42.36 1.62%
the-open-network
Toncoin (TON) $ 6.44 14.08%
shiba-inu
Shiba Inu (SHIB) $ 0.000027 0.44%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,063.50 2.54%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 98,241.32 0.17%
polkadot
Polkadot (DOT) $ 9.10 18.83%
chainlink
Chainlink (LINK) $ 17.80 4.87%
bitcoin-cash
Bitcoin Cash (BCH) $ 513.41 3.22%
weth
WETH (WETH) $ 3,432.31 2.63%
sui
Sui (SUI) $ 3.47 4.36%
pepe
Pepe (PEPE) $ 0.000021 1.78%
near
NEAR Protocol (NEAR) $ 6.67 4.37%
leo-token
LEO Token (LEO) $ 8.68 0.95%
litecoin
Litecoin (LTC) $ 101.82 0.22%
aptos
Aptos (APT) $ 12.95 1.43%
uniswap
Uniswap (UNI) $ 11.12 6.01%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,612.89 2.56%
hedera-hashgraph
Hedera (HBAR) $ 0.152347 1.71%
internet-computer
Internet Computer (ICP) $ 11.70 5.02%
crypto-com-chain
Cronos (CRO) $ 0.198212 3.50%
usds
USDS (USDS) $ 1.00 0.52%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.580002 7.27%
ethereum-classic
Ethereum Classic (ETC) $ 30.29 2.84%
render-token
Render (RENDER) $ 8.10 2.13%
bittensor
Bittensor (TAO) $ 543.11 1.70%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.52 12.48%
kaspa
Kaspa (KAS) $ 0.155344 3.32%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.15%
arbitrum
Arbitrum (ARB) $ 0.886909 7.17%
whitebit
WhiteBIT Coin (WBT) $ 24.76 0.61%
bonk
Bonk (BONK) $ 0.000047 4.80%
filecoin
Filecoin (FIL) $ 5.93 14.42%
vechain
VeChain (VET) $ 0.043951 2.84%
cosmos
Cosmos Hub (ATOM) $ 9.04 13.24%
dai
Dai (DAI) $ 1.00 0.13%
mantra-dao
MANTRA (OM) $ 3.84 1.54%
dogwifcoin
dogwifhat (WIF) $ 3.30 2.36%
okb
OKB (OKB) $ 54.24 9.07%