Investors will keep an ear to the ground this week as China's policymakers gather in Beijing for the country's Central Economic Work Conference (CEWC) – a closed-door annual meeting that sets economic priorities for the coming year.
Dates for the meeting have not been officially announced, but the meeting is expected to kick off on Tuesday, according to Ta Kung Pao - a Hong Kong-based newspaper with ties to the mainland government. The meeting usually lasts 2-3 days.
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A key issue for the CEWC will be setting next year's gross domestic product (GDP) growth target, viewed as an important signal of policy intentions.
While the targets are typically made public in March during the National People's Congress, they are occasionally leaked to local media shortly after the meeting.
As growth appears set to fall towards the lower-end of this year's "about" 7.5 percent target,Beijing is widely expected to propose a target of 7.0 percent – the lowest in a decade.
"The new leadership has proposed the concept of an economic 'new normal', which we understand to encompass slower but more balanced growth and increased reforms. We firmly believe that the top leadership is willing to accept slower but more sustainable growth," said Chang Chun Hua, China economist at Nomura.
"Moreover, support for a lower growth target has recently gained momentum in policy circles," said Hua.