China’s Communist Party charts technology- and security-focused development for reviving the economy

AP Business Writer

BANGKOK (AP) — In a year of major elections setting the course of many countries for years to come, China’s ruling Communist Party is holding top-level meetings in Beijing to draft policies for reviving its slowing economy. The closed-door meetings come at a time of growing pressure to fix chronic problems dragging on growth, including a weak job market, massive local government debts and a prolonged slump in the property market. Growth dipped below 5% in the last quarter as the party doubled down on leader Xi Jinping’s blueprint for technology- and security-focused development. China’s state media say the focus of this week’s meeting is deepening reforms, while many economists say more fundamental changes are needed.