Reported 9 months ago
The editorial on June 9, 2024, discusses the highly anticipated 20th Third Plenary Session of the 20th Central Committee of the Communist Party of China, scheduled for mid-July. The delay in this session, usually held in the fourth quarter, is believed to stem from challenges in the mainland's economy due to property developer defaults affecting real estate, the financial system, and social stability, along with geopolitical challenges in export markets. After implementing measures to stabilize the economy post Chinese New Year, Hong Kong saw positive impacts with real estate stabilization and economic boost activities, reflecting Beijing's strategy to address market risks before introducing major economic policies at the upcoming Third Plenary Session in July, focusing on long-term development and structural reforms. President Xi Jinping's speeches emphasized deeper reforms, building a socialist market economy, and enhancing market systems to boost efficiency, suggesting a shift towards a more market-oriented approach in China's economic policies. The impending Third Plenary Session could signal a turning point in China's economic strategy.
Source: YAHOO