China Pledges Stability & Reform in 2017

December 14, Qidong, Jiangsu Province: A 4,000-ton floating crane vessel for offshore wind turbine installation has begun operation. Thanks to the government’s strong reform efforts in 2016, an innovation driven economic development model has been established.

From December 14 to 16, 2016, Chinese leaders and officials gathered for the Central Economic Work Conference to map out priorities for 2017, after which a statement confirmed that supply-side structural reform will continue unabated in 2017, and that “seeking progress while maintaining stability” will be the guiding principle in governance and economic work.

China expects substantial reform progress in five key areas in 2017, including cutting overcapacity, eliminating stocking, de-leveraging, lowering costs and improving weaknesses. Efforts to reduce steel, iron and coal capacity will continue in 2017, with a focus on “zombie enterprises,” declared the statement.