Policy support to safeguard people's well-being in 2022

According to the annual Central Economic Work Conference, the country will promote both the economic development and the well-being of its people and make basic public services more available.

Efforts will be made to boost the employment of young people, enhance the basic old-age insurance, and further implement the new childbirth policies amid efforts to deal with an aging population.

The Global Research team at Bank of America said Chinese policymakers focus on both economic stability and long-term social development goals such as common prosperity, de-carbonization, reducing the burden of housing, education as well as healthcare.

The economic plan in 2022 showed that China's economy engines will shift from real estate to new momentum, such as renewable energy, electric vehicles and 5G, it said.

Sources: Xinhua News Agency, China Daily and Shenzhen Special Zone Daily