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China has set the tone for the nation’s economy: Achieving progress while maintaining stability. Progress and stability have been important economic targets for years, but this year, China’s top political advisory body says the country will focus particularly on stability .

” The world is undergoing profound changes, and these changes have resulted in increased uncertainty and instability. Domestic reforms are in a crucial stage, there are difficult issues, multiple challenges and intertwined risks. Against such a background, stability will be our focus while we seek further progress.” said Wang Guoqing, CPPCC spokesperson
But that doesn’t mean the pace of reforms in China will slow down.
Since 2015, China has adopted a path to enact supply-side reforms and reduce industrial overcapacity. This year, China will implement supply side reforms for the agricultural sector as well.

” This year we are holding special discussions on this topic. While the CPPCC discussed the macro economy last July, some members are also concerned about improving rural income. They have proposed measures to reform the price mechanism for grain, to support better processing practices for agricultural products, and to cultivate more efficient farming methods.”said Wang Guoqing, CPPCC spokesperson
Last year China maintained a medium-to-high economic growth rate under its new development philosophy.
This year China is expected to remain the most powerful economic engine driving the world economy.
Over 100 countries and international organizations are participating in China’s One Belt One Road initiative.
The initiative has created 160 thousand jobs in countries along One Belt One Road routes.
The CPPCC says China wants to share its prosperity with the world.