China’s ruling communist party has started announcing its plans to stimulate the domestic economy after the week-long Chinese Lunar New Year celebration. However, experts are not optimistic about China’s economic prospects and anticipate another wave of company exits.
According to mainland Chinese media, after the Lunar New Year Holiday authorities in many provinces and cities across the country have had high profile meetings to deploy the key economic tasks for 2023. Provincial officials have signaled to “fight for the economy with full strength” during the meetings.
Mr. Liu, an entrepreneur in Guangdong, the largest province by GDP in China, told The Epoch Times that recently, many top officials at provincial, city, and county levels have hosted entrepreneur forums. But he feels they have been “useless, because the credibility of the governments has gradually declined in recent years, and many entrepreneurs attended just for show….