BEIJING (Reuters) – Communist Party cadres in a southern Chinese province called for a change in old ways of thinking and an “emancipation of spirit” in finding solutions to economic problems, as grassroots officials launch a new push to improve the sluggish local economy.
The slogan “emancipation of the mind,” popularized in the late 1970s by former reform leader Deng Xiaoping, also appears in a vehement call for reform made by President Xi Jinping during his inspection tours of provinces and at key political meetings.
About half of China's provinces reported below-target economic growth in 2023 due to a nationwide housing crisis, subdued consumption and declining private sector investment.
The International Monetary Fund has said China's growth will slow to 4.6% in 2024 from 5.2% last year, before falling further to around 3.5% in 2028.
In an apparent sign of its determination to overcome last year's difficulties, the government of southern Hunan province has set a growth target of “around 6%” for 2024, after last year's growth of 4.6%, the official target of around had missed by 6.5%.
“Emancipation of mind” is the key to developing innovative ideas to reverse sluggish development, the Hunan Provincial Communist Party Committee said at a meeting on Sunday.
Officials must move away from “simplistic glorification” of growth rates, reverse their aversion to pain during the province's transformation and avoid accumulating excessive debt, it said.
“The 'shallow' mindset of doing nothing to avoid trouble also needs to be reversed,” it said.
The committee's comments appear to be a call to think outside the box, but China watchers say any new ideas must stay within the limits set by Xi, who has repeatedly expressed concern about uncontrolled expansion of capital markets.
The term “emancipation of spirit” also appeared at party meetings in northeastern Liaoning and Heilongjiang provinces on Sunday, the first working day after the long New Year's break.
Prime Minister Li Qiang on Sunday called for “pragmatic and forceful measures” to boost public confidence, even though China has yet to announce any bold measures to overhaul its economy.
At the annual parliamentary session in early March, Li is expected to unveil a national growth target of about 5% for 2024, similar to last year.
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