Guaranteeing the security of food, energy and industrial supply chains, and leveling out prices are some of the main tasks for China’s top economic planning agency through 2022, reports Caixin. The commitments, set out by the National Development and Reform Commission (NDRC), follow warnings by Beijing that supply shocks are one of the three main pressures facing the economy.
“Economic operations will face many problems and challenges next year, so it is necessary to tackle them head on, and coordinate and solve them in a timely manner,” according to a readout of the recent NDRC meeting, which was held after the Central Economic Work Conference (CEWC), an annual gathering that maps out priorities for the following year.
The conference, which took place from December 8 to 10 and was chaired by Chinese leader Xi Jinping, noted that “China’s economic development is facing pressure from demand contraction, supply shocks and weakening expectations, and the external environment is becoming increasingly complicated, grim and uncertain,” according to a report of the meeting by the official Xinhua news agency.
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