China's Leaders Pledge to Boost Economy and Tackle Real Estate Crisis in 2024

A comprehensive plan including boosting domestic demand, fostering innovation, and building affordable housing has been outlined to stimulate economic recovery.

China's top leaders have pledged to boost domestic demand and prioritize the development of strategic sectors to tackle the country's real estate crisis and stimulate economic recovery in 2024.
China's leaders have outlined a nine-point plan that includes technological innovation in the industrial system, boosting domestic consumption, expanding high-level foreign investment, and revitalizing agriculture to boost food security.
The country's leaders have also signaled a strategy to build affordable housing in an attempt to resolve the nation's spiraling real estate crisis, which has been festering since President Xi Jinping kicked off a crackdown on the sector in late 2020.
China's leaders have reiterated they would support the development of private enterprises and foster innovation in science and technology, green transformation, and the digital economy, including artificial intelligence.
China's leaders have pledged to strengthen macro policies, while continuing to implement proactive fiscal policies and prudent monetary action.

South China Morning Post