CCP Now Scrambles to Save Economy After 3 Years of Extreme COVID-19 Restrictions Fail to Prevent Outbreak

Unfinished apartment buildings at the Phoenix City residential project, developed by Country Garden Holdings Co., in Shanghai, China, on Jan. 17, 2022. The crisis engulfing China's property sector has the developer's shares and bonds hammered amid fears that a reportedly failed fundraising effort may be a harbinger of waning confidence. Qilai Shen/Bloomberg via Getty Images

The Chinese Communist Party (CCP) held an economic work conference in Beijing a week after its sudden abandonment of “zero-COVID” amid exponentially increasing citizen reports of COVID-19 cases and deaths.

During the meeting, Chinese leader Xi Jinping stressed the need to “vigorously boost market confidence” while expressing strong support for the country’s private sector.