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Outlook 2024: China unusually candid about economic challenges

Xi acknowledges difficulties in road to recovery

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    • The problems that China is facing include the lack of effective demand, the excess capacity in some industries and weak social expectations.
    • The problems that China is facing include the lack of effective demand, the excess capacity in some industries and weak social expectations. PHOTO: REUTERS

    Herbert Poenisch

    Published Wed, Jan 10, 2024 · 05:00 AM

    AT THE Central Economic Work Conference in December 2023, a sombre assessment of China’s economic recovery overshadowed the authorities’ usual confidence.

    China has shown signs of recovery from the shocks of the pandemic. Progress has been achieved in technology development and important advancements made in building a modern industrial system.

    But President Xi Jinping acknowledged in his New Year address that difficulties must be tackled to achieve further economic recovery.

    Outlook 2024ChinaChina economyChinese yuanThe Bottom Line

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