China Signals Regret Over Crackdowns, Focused on Balancing Growth and Stability
• China held an important economic planning meeting, signaling regret over private sector crackdowns that have hurt growth • The meeting stressed the need to "seek progress while maintaining stability" and "promote stability through growth" • This hints at remorse over overzealous policies that have negatively impacted the economy • However, China is still focused on high-quality growth, security, and innovation - not changing objectives • Analysts expect some stimulus spending in 2023 but likely insufficient to meaningfully accelerate economic growth