China needs to expand the real economy and avoid a mass jobless situation, Mr Xi said in a speech on Dec 8 at the annual Central Economic Work Conference, and published by Qiushi magazine on Sunday .Mr Xi highlighted that while China shouldn't allow"capital predators" to act recklessly, it needs to ensure orderly growth of capital and not just get rid of it.
China should study policies to support mergers and acquisitions of non-performing assets by financial institutions, and local governments should revitalise existing assets and defuse risks, Mr Xi said.There should also be a national strategic material reserve system so it can ensure stability in critical moments, Mr Xi said.
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