China's leaders, including Xi Jinping, pledged to address a housing crisis and announced measures to achieve a 5% growth target this year, despite second-quarter growth at 4.7%.
China's leaders, including President Xi Jinping, have acknowledged the economy is facing new challenges and pledged to address a persistent housing crisis. They unveiled measures aimed at achieving a 5% growth target this year, despite recent data showing second-quarter growth at 4.7%. Initiatives include adjusting housing restrictions, lowering mortgage rates, and potentially injecting $140 billion into state-run banks. Analysts caution that more support is needed to meet growth goals.
September 26, 2024
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