Business

Beijing’s Efforts to Boost Public Confidence in Economy

Beijing has been making efforts to boost public confidence in the economy and counter negativity. The president’s chief of staff, Cai Qi, has urged propaganda officials to emphasize China’s bright economic prospects as part of this initiative.

During an annual gathering of the nation’s propaganda chiefs in Beijing, Cai Qi stressed the need for positive publicity and public opinion guidance. He emphasized the importance of projecting confidence in China’s future economic situation and ensuring that the ruling Communist Party’s propaganda, ideology, and cultural work always progresses in the right direction.

Likewise, Li Shulei, the head of the party’s propaganda department, highlighted the necessity for more effective presentation of China’s image on the world stage and the prevention and resolution of ideological risks.

These directives come amidst Beijing’s efforts to combat pessimism about the economy and rejuvenate confidence amid a sluggish post-pandemic recovery and the departure of foreign capital. President Xi Jinping had previously called for a more positive portrayal of the economy and its bright outlook at a meeting in December.

Over the past year, there has been a heightened focus on averting negative news as the economy grappled with challenges following the easing of pandemic restrictions. These challenges include a worsening property sector, record-high youth unemployment, a rapidly aging population, rising tensions with the United States, and the European Union’s de-risking approach to reduce reliance on China’s supply chain.

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