A time of transition

BEIJING: What’s next? This is the simple but significant question on the minds of many, from Chinese citizens to global financial institutions and brands, to governments around the world. What’s next for China and what are China’s economic prospects for the future after three years of COVID-19 disruption?
All these mitigating factors are at play when trying to discern China’s economy’s near- and long-term future.
But one factor stands out, namely, the change in China’s policies and protocols regarding the COVID-19 pandemic.
The Chinese Government has moved on to begin the process of planning and restructuring for life and economy post-COVID. At the Central Economic Work Conference on December 15 and 16, 2022, an annual event to discuss economic policies and priorities, officials highlighted the importance of economic development and stability in the face of the pandemic. They emphasized the need to maintain a stable and resilient economic environment, and to continue the implementation of measures to support the recovery of pandemic-stricken industries and businesses. One of the government’s key measures to support the economy over the past three years was the implementation of a series of fiscal and monetary policies, including tax cuts and fee reductions, increased government spending and lower lending rates.
–The Daily Mail-Beijing review news exchange item