China preps policy support for economic conference held under Trump’s shadow

China’s annual tone-setting central economic work conference is expected to convene this week at a key time for the world’s second-largest economy

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Stabilising the property market is expected to be high on the agenda at the central economic work conference. Photo: AFP

Published: 8:00am, 9 Dec 2024Updated: 9:04am, 9 Dec 2024

China’s annual tone-setting economic work conference, which is set to convene this week, is expected to assess mounting challenges and signal intensified policy support, as policymakers seek to stabilise growth amid domestic pressures and external uncertainties, analysts said.

Chinese leaders are expected to spend at least two or three days for closed-door exchanges on next year’s major policy goals and concrete tasks during the central economic work conference.

Hundreds of high-ranking officials, including ministers, the central bank governor, provincial governors and executives of state-owned financial and industrial giants are set to attend.

Stabilising the property market, re-incentivising debt-ridden local authorities, addressing stubbornly weak investor confidence and a high youth unemployment rate are expected to be high on the agenda.

Donald Trump’s second term as US president, as well as tensions with the European Union, are also expected to feature.

“Beijing may highlight the need to fully assess the difficulties and challenges,” said Wang Tao, the chief China economist at UBS investment bank.