Key tasks set out for economy in 2022

China has mapped out the priorities for its economic policies in 2022, highlighting stability as a major target and the necessity to maintain the intensity of fiscal expenditure and roll out new tax cuts and fee reductions in shoring up economic growth.

The three-day annual Central Economic Work Conference, which concluded on Friday in Beijing, outlined key tasks in seven aspects, including steps to make macro policies prudent and effective, energize the vitality of market players and ensure the healthy growth of the real estate sector.

Xi Jinping, general secretary of the Communist Party of China Central Committee, Chinese president and chairman of the Central Military Commission, reviewed the country's economic work in 2021 and mapped out plans for next year at the conference.

With the CPC set to convene its 20th National Congress next year, policymakers underlined the importance of enabling sustained improvements in people's well-being, stabilizing the fundamentals of the macro economy and keeping major economic indicators within a proper range.

They also pointed out that China's economy now faces pressures related to demand, supply and expectations.