Chinese state media with the headlines expressing optimism from the Central Finance Office for the year ahead:
- China's economy in 2024 faces more opportunities than challenges
- Favourable conditions are stronger than unfavourable factors
The headlines hitting new sources without further detail.
Perhaps the comments are for domestic consumption? It'll take more than this to dispel doubts over the condition facing China's economy, conditions such as weak domestic demand and a property sector staying on the canvas due to the debt disaster.
More ... here we go, they read my mind:
- There are blockages in the economic cycle domestically, demand insufficient, consumption and enterprise investment willingness not strong enough
- Macroeconomic policies will continue to provide support for economic recovery - state media
- Issuance of an additional 1 trillion yuan of treasury bonds this year, as well as cuts in interest rates, tax and fee cuts and other policy effects will continue into next year
- Prices are low in China, central government debt levels are not high, and conditions are in place to strengthen implementation of monetary and fiscal policies
- China still has many favourable conditions for attracting foreign investment
- With the concerted efforts of all parties, the policy objectives of real estate risk prevention and market stabilisation can be fully achievable
