In this file photo taken on March 28, 2014, China’s President Xi Jinping stands by national flags at the Schloss Bellevue presidential residency in Berlin. Xi Jinping secured a historic third term as China’s leader on October 23, 2022 and promoted some of his closest Communist Party allies, cementing his position as the nation’s most powerful leader since Mao Zedong.
The outcome capped 10 years in which Xi has accrued more power than any Chinese leader since Mao Zedong, and broke with the example set by his two predecessors who smoothly handed their authority to those next in line. In recent years, he has thrown his weight behind the development of a more consumption-driven economy -- a policy known as “dual circulation” -- and has sought to address China’s yawning wealth gap under the banner of “common prosperity”.
“The government will have to choose a new model to develop the housing sector while keeping the deleveraging requirement in place,“ Wang said. He also reiterated that China would never renounce the option of using force to impose its rule on Taiwan, a thriving island democracy that Beijing views as part of its own territory and the US has vowed to help defend itself.
Source: Loan Digest (loandigest.net)