Officials of the CPC Central Commission for Financial and Economic Affairs said that the Chinese economy will likely face more favorable conditions and opportunities rather than difficulties in 2024. This was reported by the Chinese agency. xinhua.
Macroeconomic policies will continue to promote economic recovery, Xinhua reported after the annual Central Economic Work Conference. In November, the International Monetary Fund raised its forecast for China’s 2023 GDP growth to 5.4%, compared to Beijing’s official target of 5%.
Next year, China plans to develop new areas of consumption, including smart homes, tourism and sports events. Bond issuances, interest and tax reduction measures taken in 2023 will also continue to have an impact.
Chinese authorities will continue to monitor the situation in the collapsed real estate market and meet the reasonable financing needs of developers.
Analysts in mid-December reported It’s about the weakening of China’s economic activity.
Previously Chinese economists prohibited talk about the problems.