Explainer | What is China’s central economic work conference, and why does it matter?
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
All eyes have turned to China’s tone-setting annual central economic work conference for any clues of relief for the beleaguered economy.
Decisions reached at the conference effectively chart economic policy for the world’s second-largest economy for the coming year.
Why does China’s central economic work conference matter?
The close-door conference, which often lasts two or three days, is an occasion to share the top Chinese leadership’s thoughts about the status of the economy, their assessment of the domestic and external situation and their arrangements for the next year.
It is attended by all the members of Politburo – China’s prime decision-making body headed by President Xi Jinping – ministers, provincial leaders and executives of state-owned financial and industrial giants.
Xi’s speech and the conference statement, which is reported by the official Xinhua News Agency shortly after its conclusion, often provides a clue about China’s economic policy direction.
When could this year’s central economic work conference take place?
The date for such a high-profile conference is seldom announced, but in the past, it has often taken place in Beijing for two to three days in mid-December, normally days after a decision-making Politburo meeting.
