Explainer | From outer space to seven seas, China has 6 ambitious priorities as Beijing plots economic recovery in 2024
- China’s annual tone-setting central economic work conference concluded on Tuesday, with a 4,355-character outline of leadership’s plans for next year
- Commercial space flights, the silver economy, competitive domestic brands, food security and a pragmatic work style are all getting a closer look in China
China’s annual two-day central economic work conference, which concluded on Tuesday, laid down expansive policy priorities for the world’s second-largest economy to carve out a stronger recovery path in 2024.
From boosting business sentiment to better coordination among ministries, the 4,355-character readout of the meeting chaired by President Xi Jinping contained a long to-do list.
1. Commercial space flight, hi-tech ambitions
Chinese leaders explicitly stated their ambitions in advancing frontier technologies, including low-attitude aerospace, commercial space flight and quantum science, seeing these realms as new sources of economic growth.
“China has made progress in related research and development, but it’s a different story to commercialise research and development outcomes and develop products that meet the needs of businesses and people,” said Wu Xinjian, a manager at a Shanghai-based incubator and tech consultancy.