President Xi Jinping and other China leaders now appear to be loosening the reins to revive consumption and support the private sector. The officials said they will focus on boosting the economy next year, hinting at business-friendly policies, further support for the property market, while likely scaling back fiscal stimulus. Economists said the signals are clear that the focus next year is on boosting gross domestic product, with policymakers likely to target growth of 5% or higher. Officials said they will implement favourable policies to encourage private enterprises to grow and broaden market access for foreign firms. The officials said they would support the companies in playing a leading role in economic development, creating jobs and competing in the international market.
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