Senior Chinese officials are holding a flurry of meetings with business executives and economists to seek advice on reviving the economy. Officials’ tone at the meeting was unusually urgent, multiple attendees said.
Officials have held at least six meetings with business in recent weeks, according to a person who requested anonymity because they were discussing sensitive issues. He asked for ideas on how to revitalize the economy, restore confidence in the private sector, and revive the real estate industry.
In response, business executives and economists urged the government to speed up policy changes and insist on a more market-friendly approach to growth rather than a plan-driven one, the people said.
At one of the meetings about two weeks ago, officials and about a dozen people agreed that monetary and fiscal policies needed to be better coordinated, one of the attendees said. . All participants also acknowledged pressing concerns about the timing and content of any stimulus package.
The State Council did not respond to a request for comment on the meeting.
Officials acknowledged that China’s economy was at a critical juncture and were desperate for a solution they had never seen before, according to the two people who attended several meetings.
Officials from regulators and other government agencies also recently met with business executives in Beijing for advice on how to encourage private companies and foreign investors to return to China and expand their operations in the country, the people familiar with the matter said. one person said.
Senior Chinese officials hold regular meetings with economists and business representatives, usually followed by official announcements. But no statement was made after the last six meetings, suggesting they were ad hoc.
news-rsf-original-reference paywall">Original title:China Convenes Urgent Meetings on Economy With Business Leaders(excerpt)
#China #holds #emergency #economic #meetings #quick #succession #business #executives
2023-06-14 12:13:10
