What's in store for China's GDP and fiscal policy in 2023

Stable growth is main priority following long COVID controls and property slump

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"While high-quality development should be effectively supported, fiscal sustainability must be ensured and local government debt risks should be controllable," leading officials and policymakers noted at their annual Central Economic Work Conference to set policy priorities for 2023.

YU HAIRONG and ZHANG YUKUN, Caixin

Getting the Chinese economy back on track is the government's main priority for 2023 after three years of sluggish growth caused by the impact of stringent controls to contain COVID-19 and a slump in the property market.

Leading officials and policymakers held their annual Central Economic Work Conference (CEWC) last Thursday and Friday to set policy priorities for 2023. They agreed to stabilize growth and expand domestic demand, confirming the tone set by the Politburo, China's top decision-making body, at its meeting on Dec. 6.

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