The Political Bureau of the CPC Central Committee meeting set the tone that the easing policy will not be retired immediately

Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee, presided over a meeting of the Central Political Bureau yesterday (26), stressing that the foundation of the mainland’s economic recovery is not yet solid, and that to achieve this year’s economic and social development goals and tasks, it is necessary to implement macro policies precisely and strive to keep the economy running within a reasonable range.

Xinhua reported that the Political Bureau of the CPC Central Committee discussed the draft outline of the 14th Five-Year Plan and the 2035 Visionary Goals and the government’s work report, saying that the active fiscal policy should be qualitatively more effective and sustainable, and the prudent monetary policy should be flexible, precise and reasonably moderate.

The meeting called for scientific and precise implementation of macro policies, efforts to maintain economic operation in a reasonable range, adhere to the strategy of expanding domestic demand, and strengthen the strategic support of science and technology.

The tone of the meeting is basically consistent with the Central Political Bureau meeting and the Central Economic Work Conference held at the end of last year, indicating that the relatively loose macro policies launched to fight the Epidemic will not be withdrawn immediately.

Reuters reported that experts generally believe that the epidemic factor and the mainland is weakening the only GDP first, this year may refer to last year’s practice not to set GDP growth targets, but through employment, prices and other comprehensive indicators set to achieve the “six stability”, “six protection “The economic and social objectives. The deficit rate under the active fiscal policy may contract at around 3.5%, and the effectiveness of fiscal spending needs to be enhanced.

The meetings of the National People’s Congress (NPC) and the Chinese People’s Political Consultative Conference (CPPCC) of the mainland will be held in Beijing on March 5 (next Friday) and March 4 (next Thursday), respectively.