The COVID-19 pandemic has made severe impacts on the economy during the past three years. China adjusted its virus control in early December, relaxing the restriction measures in line with the lessening pathogenicity of the virus. Now, the priority should be boosting the economy.

On December 6, the Political Bureau of the Communist Party of China Central Committee, comprising the ruling Party's most senior officials, convened a meeting to analyze the economic work necessary in 2023. It was noted at the meeting that special attention will be paid to steady growth in the coming year, pursuing progress while ensuring stability. Proactive fiscal policy and prudent monetary policy will continue to be implemented, and efforts will be made to coordinate different policies and optimize the pandemic response so as to form synergy for high-quality development.

China has withstood the impacts of COVID-19 and effectively protected the lives and health of its people while maintaining economic activity in the past three years. Many believe China has achieved the maximum result of COVID-19 prevention and control at the minimum cost. This is the premise under which the economy and society will gradually resume normal operations.

The Chinese economy has faced tremendous downturn pressure due to repeated resurgences of the virus in 2022. The country has therefore introduced a package of policies to ensure a steady economy, such as supporting market players, especially micro, small and medium-sized enterprises, through tax and fee cuts. With solid foundations and strong resilience, the Chinese economy will have an even brighter future.

After adjusting its control measures, China will accelerate the advancement of opening up and greater efforts will be made to attract and make good use of foreign investment, which is conducive to maintaining the stability of global industry and supply chains.

China is now accelerating efforts to foster a new pattern of development that is focused on the domestic economy and features positive interplay between domestic and international economic flows. This is an important way for China to integrate deeply into the international economic system and make greater contributions to international development.