(TheRedWire.com) – Chinese President Xi Jinping is setting some problematic New Year’s resolutions for the country. His goals seem to contradict the current regulations and policies, but he has no plans to make changes that would make things easier on those trying to comply with all his wishes.
During the Central Economic Work Conference, President Xi set out his plans for government officials. He wants to continue his tough position on monopolies but allow exceptions for some companies. Xi plans to continue close monitoring of local governments and keep their debts low. At the same time, he wants them to issue bonds to help finance infrastructure.
Breakingviews – Xi's new year's resolutions are hard balancing act https://t.co/vopMBiPhr1
— Reuters (@Reuters) December 13, 2021
President Xi also set plans to increase the production of resources, such as coal, but demanded that officials prioritize conservation. The goal for carbon neutrality by 2060 and the even more pressing 2030 carbon emissions rules, which are already leading to energy issues as officials try to meet goals, remain in place.
The president recognizes the economic agenda for 2022 requires a focus on growth. He also admits there is a need to loosen regulations to reach his goals, and the most significant concern remaining for China is economic stability. Despite his admissions, top officials will have difficulty meeting his new demands as long as he doesn’t move to change regulations.
Copyright 2022, TheRedWire.com