China’s ruling party to hold key economic policy meeting in July

HIGH POINT — Chinese leaders will soon hold a long-delayed policy meeting aimed at addressing domestic and international economic headwinds. The country’s governing party announced today that it will hold the third plenum of its 20th central committee in July.

The announcement of the meeting comes as China faces mounting economic challenges, including a property sector riddled with debt, weak internal demand and pricing pressures squeezing its once world-leading exporters.

According to an announcement from the country’s state-run news agency, the meeting will seek to “implement a new mechanism for cooperation between the government and private capital” while stimulating private investment.

The announcement also said that the policy makers would seek to “strengthen the use of advanced technologies” in upgrading its manufacturing sector.

China will “actively expand trade in intermediate goods, service trade, digital trade and cross-border e-commerce exports, support private enterprises in expanding to overseas markets and intensify (its) efforts to attract and use foreign investment,” the announcement continued.

Party plenums are gatherings of the extended inner circle of the country’s ruling elite, held seven times in between the Party’s twice-a-decade congresses.

Since the country’s reform and opening to the outside world under Deng Xiaoping in the late 1970s, third plenums have focused on economic policy reforms. Based on that precedent, this policy meeting should have been held in the autumn of last year, but was postponed without explanation.

See also:

  • China: Data and the industry agree its furniture presence is in steep decline
  • China’s wood furniture exports fall 7% this year

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