China postpones the Central Economic Work Conference, which was due to start on the 15th. A person familiar with the matter said it was due to a surge of new coronavirus infections in Beijing.
It’s unclear when a new program will be finalized, the people said, asking not to be identified because the information is classified.
The meeting, which discusses policy goals for next year, will be attended by President Xi Jinping, Politburo members, local government officials and heads of government agencies and financial institutions. A statement is released through state media on the final day of the three-day event.
China abruptly ended its zero-corona policy earlier this month, lifting tests, quarantines and other measures, but there are signs that infections are rising everywhere, including in Beijing.
The State Council information office did not immediately respond to a faxed request for comment.
China’s growth prospects are further clouded by the unexpected coronavirus policy shift. Economists were watching the meeting, expecting officials to signal looser fiscal and monetary policies and further easing of rules in the housing market.
Economic growth targets for next year are also usually discussed at the Central Economic Work Conference. It will be announced at the National People’s Congress in March next year. Bloomberg News reported last week that Chinese officials were considering setting a growth target of around 5% next year.
Economists polled by Bloomberg expect China to grow 3.2% this year, the weakest since the 1970s, not counting the economic downturn in 2020 caused by the coronavirus pandemic.
Original title:China postpones key economic policy meeting due to Covid spike(extract)
(Update to add the last 3 paragraphs)
