MNI BRIEF: China Will Prioritise Growth, Boost Demand - CPPCC

China will prioritise economic growth, boost domestic demand and accelerate the recovery of consumption this year, though the external situation is complicated, said Guo Weimin, spokesman for the first session of the 14th National Committee of the Chinese People's Political Consultative Conference in a briefing on Friday. China's economy has shown its resilience and potential after three years of pandemic, but spillover effects from overseas political and economic changes have imposed challenges, said Guo. He noted the country will take substantive measures to boost confidence, push the digitalisation of traditional industries and small business, guide financial institutions to meet credit demand, and ensure the healthy development of the property market. The employment situation in 2023 is severe given 11 million new graduates, and the CPPCC suggested authorities should enhance support for medium-sized and small businesses through fiscal policies and tax cuts, Guo said. The conference will run from March 4 to March 11.