BEIJING: Chinese President Xi Jinping warned that the world’s second-biggest economy is facing a period of ‘turbulent change’ and that rising external markets risk required policymakers to increasingly rely on domestic demand to spur growth.
The five-yearly economic blueprint is expected to be unveiled in the annual parliament meeting next year, and Xi said China must be prepared for “a period of turbulent change” as the coronavirus pandemic has accelerated protectionism, hammered the world economy and disrupted supply chains. Xi said the domestic market will “dominate the national economic cycle” in the future but vowed to further open up China’s economy.
“We must actively cooperate with all countries, regions and enterprises who are willing to cooperate with us, including states, localities and enterprises in the US,” he said.
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