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Beijing warns against 'worship of speed' in growth



Chinese state media warned against pushing for faster growth at all costs and emphasised boosting domestic consumption, days before next week’s Central Economic Work Conference sets targets for 2025. Official commentary from Xinhua suggested a slight miss of this year’s 5% expansion goal would be acceptable, reducing pressure to accelerate growth artificially. Another Xinhua piece underscored the importance of expanding domestic demand amid global trade frictions. Investors expecting stronger stimulus may be disappointed, as policymakers appear focused on sustainable growth rather than speed. The Politburo’s pre-conference meeting, likely attended by President Xi Jinping, will offer clues on monetary and fiscal policy. China’s campaign to ensure this year’s target has involved rate cuts and support measures.


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