Chinese officials acknowledged on Friday that a sweeping list of economic goals re-emphasised at the end of a key Communist Party meeting this week contained “many complex contradictions, pointing to a bumpy road ahead for policy implementation.
Following a four-day, closed-door meeting led by President Xi Jinping, which takes place around once every five years, officials made a raft of pledges, including modernising the industrial complex while curbing debt risks.
China will hasten work on restructuring its property industry to stamp out previous features such as high debt, turnover, and leverage, Deputy Director of the Office of the Central Financial and Economic Affairs Commission Han Wenxiu said at a news conference.
He added that it is necessary to establish a basic system of financing, taxation, and land sales compatible with the development of real estate. The government will protect the legitimate rights and interests of foreign firms, Han added.
Source: eNCA
In other news – Polo driver caught pants down on the side of the road – WATCH
A polo driver and his female companion have sparked a wave of reactions and discussions across social media platforms following a recent scandal, highlighting the complexities and challenges surrounding privacy in the digital era.
The two were engaging in tlof tlof activities inside a Volkswagen Polo parked by the roadside. The couple was unaware they were being observed and recorded by an onlooker, who then shared the video online. Read more
