Mysterious Chinese state media article on economy aimed at ‘officials and market players’

A front-page article in People’s Daily critical of China’s recent economic policies was aimed at taking a message from the top leadership directly to other ­officials in charge and market players, the same Communist Party mouthpiece said on Tuesday.

The lengthy remarks on ­Monday, presented as a transcript of a question-and-answer session with an “authoritative figure”, drew widespread interest for ­presenting a picture of the ­economy in stark contrast to the one offered by the State Council.

The “voice” could be seen “in some degree” as that of the “highest leadership”, said the commentary posted on the website of the newspaper’s overseas edition.

It said the remarks were aimed at reassuring investors over the government’s macroeconomic policies, as well as advising officials to adapt their mindset to changing economic conditions.

“The real test for officials under the current economic circumstance will lie in ... balancing pressure from their superiors, market expectations, demands from the public on livelihood issues, and the reality faced by ­local governments or departments,” the commentary read.

President Xi’s stance on China’s economy laid bare as he distances hallmark policy from Western-style supply-side economics

Monday’s article repudiated many of the economic policies pursued by the State Council under Premier Li Keqiang, sparking speculation there was a divergence over policy within the leadership. It also set off a guessing game over who and just how high up the “authoritative” ­person was.