Chinese Officials Acknowledge Economic Challenges
==========

Chinese officials acknowledge the need to boost employment and stabilize the property market as China's economy faces challenges. Youth unemployment reached 21.3% in mid-2023, and home prices have been falling for months. Wang Xiaoping, the Minister of Human Resources and Social Security, stated that overall employment pressure has not lessened and more effort is needed to stabilize employment. Housing Minister Ni Hong acknowledged the difficulty of stabilizing the property market and emphasized the need to address systemic risks. Premier Li Qiang set an ambitious growth target of around 5% for 2024, despite the challenges facing the Chinese economy.

#China #Employment #PropertyMarket #YouthUnemployment #EconomicChallenges

https://www.voanews.com/a/chinese-officials-acknowledge-economic-challenges/7520902.html