When China's leaders gather this month to set next year's economic agenda, they will likely map out more stimulus steps, eager to underpin growth and to ease disruptions caused by a sudden end to COVID-19 curbs, policy insiders and analysts said.
The move was welcomed by global markets for the long-term economic benefits but carries with it the short-term prospect of a surge in infections, and the pain that will bring.The dilemma is not lost on China's leadership, including a new team of top economic officials selected by the party congress in October, where Xi packed top party decision-making bodies with his close allies. They will formally take office in March.
Government advisers told Reuters last month they would recommend the conference adopt 2023 growth targets ranging from 4.5% to 5.5%, while a central bank adviser said last month that China should set a target no lower than 5%. "I believe we should set a growth target of above 5%," said a government adviser, who spoke on condition of anonymity because the deliberations are confidential.
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