China Communist Party policy meeting expected to endorse leader Xi’s high-tech vision for economy

BEIJING (AP) — China’s ruling Communist Party is wrapping up a top-level meeting on Thursday that is expected to endorse policies aimed at building the country’s technological prowess and fortifying its national security.

The plenary meeting of the party’s Central Committee was held behind closed doors. But analysts expect a major focus to be on strategies for self-sufficient economic growth at a time when China faces tightening restrictions on access to Western advanced technology, such as leading-edge computer chips and artificial intelligence.

Foreign investors and markets were watching to see what the party might do to counter the slump in China’s real estate sector and weak consumer confidence that has hindered China’s recovery from the COVID-19 pandemic.

Economic growth slowed to 4.7% on an annual basis in the April to June quarter, as investments in real estate and property sales continued to decline despite a raft of measures aimed at encouraging families to buy housing.

Recent reports in state media and earlier government policy statements suggest Beijing will continue to prioritize investing in technologies and encouraging companies to upgrade their equipment and knowhow in line with leader Xi Jinping’s call for “high-quality development.”

“Xi’s recent remarks on reform and opening-up at various major meetings provide a crucial window into the tone of the session, the priority of China’s reform agenda and the overall goal of further deepening reform and advancing Chinese modernization,” the party newspaper Global Times said in a commentary.

It said the meetings would “draw a blueprint for reform on all fronts,” aiming to improve China’s governance and to “resolve deep-seated institutional challenges and