Data released last week already showed a sharp slowdown in growth to 4.9% in the third quarter from 7.9% in the previous quarter, with more pain likely to come as electricity shortages persist.

Even before the pandemic hit, China was surprising economists with slower-than-expected growth caused by Beijing's resolve to ease debt risks, which meant it avoided broad stimulus even as the U.S.-China trade war threatened expansion.

After modest easing to cushion the worst effects of the coronavirus, its debt-control policy resumed, with real estate companies such as China Evergrande Group feeling the biggest impact.

Xi also set about seeking to reshape the consumer technology, private tutoring and real estate sectors, with officials arguing they represent a wasteful use of the country's limited resources. Officials have mostly embraced the resulting slowdown.