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China’s Communist Party
ChinaPolitics

China’s state media in positive economic spin mode in countdown to ‘two sessions’

  • Communist Party mouthpiece says negative elements are rising but the country is in a sound recovery
  • Property and stock market plunges as well as security focus have dented confidence in the economy’s prospects

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Concerns linger over the health of China’s economy. Photo: Reuters
Jane Caiin Beijing
China’s official media are trying to put a positive spin on the economy, countering global concerns about the slowdown ahead of next week’s annual gathering of the national legislature.
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In an editorial on Saturday, Communist Party mouthpiece People’s Daily focused on the record box office and increases in holiday spending over the Lunar New Year, saying the rises reflected the “vitality and resilience of China’s high-quality development”.

“Negative elements in the international political and economic environment are rising, and domestic cyclical and structural problems are making the situation even more complex,” the editorial said. “However, our economy is generally in a sound recovery. We are still the world’s largest growth engine.”

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China’s economy grew 5.2 per cent last year from 2022, slightly higher than the official target of around 5 per cent. But stock market plunges last year, the property sector downturn and the party’s emphasis on security have made investors skittish.

When the National People’s Congress convenes next week, observers will be watching to see what support Beijing will give the economy.

“It’s still uncertain what concrete measures China will take to spur economic growth,” an economist with a leading university in Beijing said on condition of anonymity.

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“The sure thing is, however, they will talk up the economic prospects to boost confidence, as officials believe confidence and perception are the biggest challenges.”

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