Wang Tao: NPC Meeting Likely to Prioritize Stabilizing Growth
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We expect the upcoming National People’s Congress (NPC) meeting starting on March 5 to follow the policy stances set in the Central Economic Work Conference (CEWC) last December and set the annual GDP growth target at “around 5%” again to anchor expectations. This looks ambitious given the lingering growth headwinds and uncertainties.
The meeting is likely to prioritize stabilizing growth and emphasize boosting domestic demand with more supportive macro policies, with reviving household consumption listed as a top task.
Wang Tao is the head of Asia Economic Research, UBS Investment Bank and a former senior economist at the International Monetary Fund. She is the author of “Making Sense of China’s Economy”. She is an invited fellow of the China Finance (CF) 40 Forum and a member of the China Global Economic Governance 50 Forum.
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