China Calls Boosting Domestic Demand Top Economic Priority
- Central Economic Work Conference met as Covid Zero dropped
- Support for private sector stronger than in previous years
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China pledged to revive consumption and support private businesses, as Beijing shifts toward boosting growth after dropping its Covid Zero policy.
Top leaders including President Xi Jinping said restoring and expanding consumption should “take the precedence” as they concluded a meeting setting economic policy priorities for 2023, according to a statement issued by Xinhua News Agency. They also vowed to encourage private sector growth and support platform firms in playing a leading role in development.