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China’s economy has survived the most difficult phase and the country’s optimized COVID-19 response measures will have a positive effect on the economic recovery, according to officials and experts.
They said China will gradually shake off the impact of COVID-19 and post a notable economic rebound in 2023, given the further implementation of optimized measures and the more pro-growth focus of policymakers.
However, they warned of troubles in the real estate sector, as well as strong external headwinds being a drag on the economy, and underlined that improving expectations and boosting market confidence will hold the key to economic recovery next year.
Yin Yanlin, deputy director of the office of the Central Committee for Financial and Economic Affairs, said the optimization of the COVID-19 containment measures will create favorable conditions for economic recovery.
“The worst moment is over,” Yin said on Saturday at an annual meeting on China’s high-quality development held by the China Wealth Management 50 Forum. “With the implementation of the optimized COVID containment measures, (China will see) smoother flow of people and logistics, and accelerated recovery in business and social activities.
