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China’s Leaders Plot Pivot Back Toward Boosting Economy
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SINGAPORE—The Chinese government is shifting back to growth mode, as a rapid deterioration in economic conditions prompts alarmed officials to turn more of their focus to development after years of criticizing cadres who gave priority to growth at the expense of social stability and fiscal prudence.
He Lifeng, who was added to the Communist Party’s top policy-making body, the Politburo, at a party conclave in October, is drafting a growth plan of more than 5% for next year, according to people familiar with the matter.
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