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China economy

China to set 2018 policies during upcoming annual economic work conference in Beijing

Measures to curb financial risk, fight pollution and eradicate poverty among top priorities

PUBLISHED : Tuesday, 12 December, 2017, 12:46pm
UPDATED : Wednesday, 13 December, 2017, 5:37pm

China’s annual Central Economic Work Conference will begin on Monday, December 18, during which the ruling Communist Party’s economic agenda for 2018 will be mapped out, the website of Hong Kong-based Phoenix TV reported on Tuesday, citing unnamed sources.

The three-day policymaking conference, led by President Xi Jinping, involves hundreds of senior leaders from the party, and has been held every year since 1994. The meetings usually take place behind closed doors in a heavily guarded hotel in Beijing.

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A statement about the general conclusions will be released via state media outlets after the conference, but internal debates and specific instructions are usually kept under wraps.

Last year’s event took place at a time when the Chinese economy was facing a mountain of debt at home and a barrage of threats from the United States, including a tougher trade stance from President Donald Trump, higher interest rates, and lower business taxes in the US.

At a meeting by the 25-member Politburo last week, the Chinese leadership listed measures to curb financial risks, eradicate poverty and fight pollution as the top economic priorities for 2018, the official Xinhua news agency reported.

The Politburo statement also highlighted the need to reform the property market, a key topic during next week’s conference.