BEIJING (Reuters) -China’s economy is expected to see more favourable conditions and more opportunities than challenges in 2024, state media said citing a government readout.
Macroeconomic policies will continue to provide support for economic recovery, the official Xinhua said in a detailed readout of the annual Central Economic Work Conference held from Dec. 11-12, during which top leaders set economic targets for the following year.
“China’s prices are low, central government debt levels are not high, and conditions are in place to strengthen implementation of monetary and fiscal policies,” Xinhua said, quoting the readout released late Sunday.
Still, blockages persisted in the domestic economic cycle as demand, consumption and enterprise investment remained weak.
The effects of this year’s treasury bond issuance, cuts in interest rates, tax and fee cuts and other policies will continue into next year, the report said.
China would also continue to monitor its battered real estate market and meet the reasonable financing needs of real estate companies.
“With the concerted efforts of all parties, the policy objectives of real estate risk prevention and market stabilisation can be fully achieved,” state media said.
($1 = 7.1179 Chinese yuan)
(Reporting by Liz Lee and Shanghai newsroom; Editing by Lisa Shumaker and Sam Holmes)
