Report on China's Economic Development 2023

This book examines China's economic performance amid profound global uncertainty, including geopolitical tensions, rising inflation, and major shifts in international monetary policy, alongside domestic shocks from repeated COVID¿19 outbreaks and mounting structural pressures. Despite these challenges, China's economy has demonstrated resilience, with an overall V¿shaped recovery. The book argues that sustaining the recovery requires sufficiently strong counter¿cyclical macro policies to guide growth back toward its potential rate. It emphasizes the continued implementation and coordination of proactive fiscal policy, prudent monetary policy, and employment¿first strategies to stabilize demand, reduce financing costs, and address structural employment challenges. Focusing on 2023, the book identifies ten key policy priorities covering epidemic coordination, confidence building, real estate risk resolution, technological innovation, industrial upgrading, reform and opening¿up, regional development, green transition, employment stabilization, and risk prevention, offering an authoritative and forward¿looking assessment of China's macroeconomic path.