Xi does not want to return to planned economy in China Financial


“We have come to understand that we should not ignore the blindness of the market nor return to the old path of the guided economy,” Xi told political advisers to the annual People’s Congress in Beijing. He reiterated the government’s position that markets should play a “decisive role” in the economy.

China is taking into account increasingly negative responses from the US, where the Trump administration is threatening measures in many areas, from trade to dealing with the corona crisis. The White House voiced widespread criticism of Chinese economic and military policy this week, including allegations of intellectual property theft and economic protectionism.

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