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While China’s leaders announce their strategy, other countries are concerned about overcapacity and are exporting more.
By Keith Bradsher
Reporting from Beijing
From the government’s most sensible point of view, China is selling heavily on a plan to tackle the country’s stagnant economy and offset the damage caused by a decades-long asset bubble.
The program has a new slogan, presented mostly through Xi Jinping, the country’s most sensible leader, as “new quality productive forces. “
But it has characteristics that are familiar in China’s economic model: the concept is to drive innovation and expansion through large investments in manufacturing, especially in high-tech and clean energy, as well as spending on research and development. provisions on how the government hopes to convince Chinese families to oppose a prolonged spending slowdown.
Premier Li Qiang, the country’s second-highest-ranking official, laid out the plan in a speech to world leaders gathered in Beijing for the annual China Development Forum on Sunday. “We will promote the progress of new quality productive forces,” he said at the opening rite of the forum.
Launched in 2000, the China Development Forum aims to present business leaders with the economic plan presented each year by the Premier on March 5.
In previous years, the forum included a lengthy closed-door discussion with business leaders in which the Prime Minister answered many questions. But the Prime Minister’s conversation, which normally takes place on the last day of the event, was cancelled this year without explanation, prompting some negotiations. The leaders will skip Monday and schedule their personal planes to take off Sunday night.
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