China facing 'challenges' in reviving economy, leaders say
by AFP Staff Writers
Beijing (AFP) Dec 12, 2023

China is confronting "difficulties and challenges" to its economic recovery, Beijing's leadership said at a key meeting this week, according to a state media report on Tuesday.

"China still has to overcome some difficulties and challenges to further revive the economy," top leaders, including President Xi Jinping. noted at a meeting of the country's Central Economic Work Conference, state news agency Xinhua reported.

The annual closed-door meeting of Beijing's top decision-makers comes as China's economy battles headwinds on multiple fronts, from waning consumer demand to a debt crisis in its property sector.

At the meeting, top officials decided "priorities for the economic work in 2024" and Xi gave a speech, Xinhua said.

"It was noted at the meeting that China's economy has achieved a recovery," the report said.

According to the official present: "favourable conditions outweigh unfavorable factors in China's development".

"And the fundamental trend of the economic recovery and long-term positive outlook has not changed," Xinhua said.

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