Agency, Beijing
Published by: Dev Kashyap
Updated Thu, 10 Mar 2022 01:53 AM IST
Summary
During the State Council meeting of the Communist Party of China (CCP), Prime Minister Li Keqiang said that the economy is facing pressures in the current period and the situation of uncertainty has increased.
While Chinese President Xi Jinping is gearing up for a new third term in power, the country’s central leadership is worried about possible unrest over price hikes and unemployment. China’s central leadership has many difficult goals in the new year. In many meetings, concern has been expressed about the condition of the country’s economy.
During the State Council meeting of the Communist Party of China (CCP), Prime Minister Li Keqiang said that the economy is facing pressures in the current period and the situation of uncertainty has increased. The Politburo of the Central Meeting of the CCP met at the end of February to discuss the draft government business report. President Xi Jinping presided over the meeting. In this meeting, the Politburo did not even mention two important issues.
First- stand on Russian attack on Ukraine and second- economic plight of the country. But the priorities set for 2022 tell the real story. These included introducing measures to stabilize the economy, increase market vitality, expand domestic demand and increase urbanisation. That is, the development that China shows is yet to be achieved.
Financial challenges include financial corruption
China’s Politburo also made a veiled reference to two other economic challenges this year, including tackling rampant financial corruption and implementing fiscal reforms. In addition, its goals include deepening reform and openness, coordinating epidemic prevention and control, and improving people’s livelihoods. This shows that Xi will face many challenges in his third term.
Expansion
While Chinese President Xi Jinping is gearing up for a new third term in power, the country’s central leadership is worried about possible unrest over price hikes and unemployment. China’s central leadership has many difficult goals in the new year. In many meetings, concern has been expressed about the condition of the country’s economy.
During the State Council meeting of the Communist Party of China (CCP), Prime Minister Li Keqiang said that the economy is facing pressures in the current period and the situation of uncertainty has increased. The Politburo of the Central Meeting of the CCP met at the end of February to discuss the draft government business report. President Xi Jinping presided over the meeting. In this meeting, the Politburo did not even mention two important issues.
First- stand on Russian attack on Ukraine and second- economic plight of the country. But the priorities set for 2022 tell the real story. These included introducing measures to stabilize the economy, increase market vitality, expand domestic demand and increase urbanisation. That is, the development that China shows is yet to be achieved.
Financial challenges include financial corruption
China’s Politburo also made a veiled reference to two other economic challenges this year, including tackling rampant financial corruption and implementing fiscal reforms. In addition, its goals include deepening reform and openness, coordinating epidemic prevention and control, and improving people’s livelihoods. This shows that Xi will face many challenges in his third term.