The central government has taken the lead in this year's economic work and corrected the deviation of this year's overly strict macro policy. As the triple pressures of demand contraction, supply shock and weakening expectation faced by China's economic development are related to tight policies, policy correction is very necessary. After the rapid correction of policies, China's economy is expected to have a good start in 2022.
The biased policy reflects the improper understanding behind the policy. Therefore, only policy correction is not enough, but also the understanding behind the correction policy. I believe that it is with this in mind that the communique of the central economic work conference will devote a large space to discuss the need to correctly understand and grasp new major theoretical and practical issues. For China's economy, the problems that need to be correctly understood are not limited to the five aspects mentioned in the communique: common prosperity, capital, supply guarantee of primary products, prevention and resolution of major risks and carbon peak and carbon neutralization. The communique also requires that leaders of economic work must proceed from reality and strengthen investigation and research.
With the correction of economic policies and the gradual correction of the understanding behind economic policies, it is believed that China's economy will recover in the short term and operate more steadily in the long term.
