Politburo Meet Pre-CEWC

MNI (London) - Wires run headlines covering a story from Xinhua, flagging that the Politburo has met to discuss/analyse the economic work for ’24, with President Xi heading the meeting.

• The Central Economic Work Conference (CEWC) is set to take place this month, potentially as soon as next week.
• Most sell-side reports that we have seen expect China to set an official ’24 GDP growth target of ~5%. A reminder that the ’23 growth target was set at “around 5%.”
• This is deemed ‘ambitious’ by many, with expectations for continued policy support, particularly when it comes to the troubled property sector.
• A reminder that the “Two Sessions” event in March is the usual staging post for the formal release of the ’24 economic targets, although the bulk of discussion on those matters generally takes place at the CEWC.