Workers are seen next to a crane at the construction site of a subway maintenance and repair depot in Beijing. “As the external environment is complicated and severe, the economy has faced downward pressure,” Xinhua News Agency said, citing a statement issued after a three-day annual economic session by senior officials of the ruling Communist Party. At the closed-door Central Economic Work Conference, the leaders, including President Xi Jinping, emphasised the importance of protecting employment and financial stability by maintaining economic growth at a rational level, it said. China’s economic growth target for 2018 was set at around 6.5%, but some analysts say that Xi’s leadership may have accepted an economic slowdown of about 6.0% next year. New economic growth and inflation targets will be submitted for approval at China’s parliamentary session in March.

Source: Bangkok Post December 21, 2018 12:11 UTC