Central News Agency reported on May 1 that China held four high-level meetings in 4 days between April 26 and April 29. These intensive meetings show Chinese economy is facing great pressure. Chinese authorities decide on specific follow-up policies to restore market confidence, saving the nation’s economy.

The reasons for the economic downturn include strong measures of many industries, the Russia-Ukraine war, the U.S. Federal Reserve interest rate raising, and China’s epidemic control measures.

On April 26, the Central Financial and Economic Affairs Commission organized a meeting to strengthen infrastructure construction and build a modern infrastructure system. It proposed measures to guide market expectations, clarify policy orientation and stabilize market confidence.

On the following day, China’s State Council organized an executive meeting related to employment and economic stability.

On April 29, there were two other high-level meetings of the Politburo. The main topic focused on the capital market. The meeting discussed the economic significance of the capital market and emphasized the need to regulate and guide capital development.

The Chinese economy faces an imbalance between regulation and development in various aspects. Since the beginning of this year, more than 70 real estate policies have been relaxed in China’s cities, but the real estate market has not shown any signs of recovery.

According to the Central News Agency, in mid-March, after A shares fell sharply, Vice Premier Liu He of the State Council presided over a meeting of the Financial Committee. He also conveyed a message of stabilizing market confidence.

However, he only made it clear that there would be no real estate tax this year. Other aspects have shown no concrete results. They include the revision of regulations on auditing overseas listed companies, the announcement of policies to promote the development of the platform economy, and the expectation of interest rate cuts.

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