CHINA is confronting “difficulties and challenges” to its economic recovery, Beijing’s leadership said at a key meeting this week, a state media report revealed today.

“China still has to overcome some difficulties and challenges to further revive the economy,” top leaders, including President Xi Jinping. noted at a meeting of the country’s Central Economic Work Conference, state news agency Xinhua reported.

The annual closed-door meeting of Beijing’s top decision makers comes as China’s economy battles headwinds on multiple fronts, from waning consumer demand to a debt crisis in its property sector.

At the meeting, top officials decided “priorities for the economic work in 2024” and Xi gave a speech, Xinhua said.

“It was noted at the meeting that China’s economy has achieved a recovery,” the report said.

According to the official present: “favourable conditions outweigh unfavourable factors in China’s development”.

“And the fundamental trend of the economic recovery and long-term positive outlook has not changed,” Xinhua said. – AFP, December 12, 2023.