An emphasis on stability

The Chinese government wrapped up its annual Central Economic Work Conference (CEWC) on Dec 13 and released a statement afterwards. The CEWC is part of the annual policy cycle, following on the Politburo meeting earlier this month.

The statement is meant to express the government's view on: first, current economic developments and the outlook for next year; second, the overall macroeconomic policy stance; and third, in general terms, giving an idea of the focus of economic policymaking and structural reforms next year.

The CEWC sets the stage for more concrete policy formulation in the coming months, in the run-up to the presentation of the work reports of the premier, the National Development and Reform Commission and the Ministry of Finance to the National People's Congress in March.