Chinese leaders consider next steps for economy as debt and deflation cloud outlook for coming year

State media say Chinese leaders have wrapped up a two-day annual meeting to set economic priorities for the coming year. The official Xinhua News Agency gave no details of specific policy changes but summarized broad goals in line with the ruling Communist Party's longstanding efforts to steer the world’s second-largest economy toward more sustainable, stable growth as China recovers from the setbacks of the COVID-19 pandemic. The annual economic work conference is usually held in mid-December. The Xinhua report said China faces slack demand, excess industrial capacity, weak consumer confidence, and a world that has grown increasingly “complex, severe and uncertain.” But it said the economy has “achieved a recovery.”