China advisers play down concern over slowing economic growth ahead of key policy meeting

An annual meeting of top Communist Party officials will this week set China’s economic policy priorities for 2020

Government-linked advisers and think tanks have downplayed concerns over economic growth, suggesting next year’s target could fall below 6 per cent

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Wang Yiming, deputy head of the Development Research Centre (DRC), says economic growth of 6 per cent is not ‘watershed’ moment for China. Photo: Xinhua

Published: 9:00pm, 10 Dec 2019Updated: 11:29pm, 10 Dec 2019

China has sought to play down concern over slowing economic growth and job losses ahead of a key economic policy meeting this week, with government-linked advisers and think tanks suggesting policymakers should focus on domestic restructuring.

The Central Economic Work Conference (CEWC), an annual meeting attended by senior Communist Party officials, will set the government’s economic policy priorities for 2020.

Specific targets will not be announced until March next year, when the Premier’s government work report is delivered to the National People's Congress, but officials are expected to address key concerns facing the world’s second largest economy.

Among them will be whether Beijing should defend a 6 per cent growth target next year, ways the government can ensure long-term growth, and how it can ease rising anxiety among small businesses and individuals amid heightened trade tensions with the United States.

As seen from the development path of successful catch-up economies, they had long or short transition periods after high-growth periods and entered a phase of growth of about 5 per cent

Wang Yiming

Influential government-backed think tanks have this week dropped hints about the direction of debate at the meeting.