Chinese President Xi Jinping during his annual New Year address, pledged to strengthen economic momentum and job creation. He acknowledged that some companies and citizens had endured a difficult year 2023.
Also read: 'China's 'reunification' with Taiwan inevitable': Xi Jinping's big claim during New Year's speech
This marks a rare admission from China’s most powerful leader since Mao Zedong of domestic challenges facing the country. Xi Jinping conveyed his message to 1.4 billion people in China as the most anticipated post-pandemic economic boom failed to materialise in 2023. China experienced a peak in youth unemployment during the summer, reaching a record high, after which the government stopped publishing figures.
Also read: China to ease visa restrictions for US visitors from 1 January. Details
He used this address to glorify his nation’s achievements and admitted that some “enterprises had a tough time" and “people had difficulty finding jobs and meeting basic needs." He listed down some domestically produced projects including the C919 passenger jet, a made-in-China cruise ship, Chinese space programs, manned submersibles and electric cars.
Also read: The India-China dynamic seems set to lead an age of meta-reason
In a televised address on Sunday, Xi Jinping said, “We will consolidate and strengthen the momentum of economic recovery, and work to achieve steady and long-term economic development," reported Bloomberg.
He further said that the government’s goal is “delivering a better life for the people," and pledged to provide better education and career opportunities for the young and healthcare for the elderly. “All Chinese on both sides of the Taiwan Strait should be bound by a common sense of purpose and share in the glory of the rejuvenation of the Chinese nation," he added.
Also read: Indian stock market: 6 things that changed for market over weekend - Gift Nifty, FPI buying to China’s factory activity
He also said that China's "reunification" with Taiwan is inevitable ahead of the general elections in the Chinese-claimed island to elect a new leader, reported Reuters. "The reunification of the motherland is a historical inevitability," the Chinese President said. “China will surely be reunified," he added. "Compatriots on both sides of the Taiwan Strait should be bound by a common sense of purpose and share in the glory of the rejuvenation of the Chinese nation," Xi Jinping said.
Also read: China’s liquidity boost cheers markets with PBOC’s massive fund injection; economists eye rate cut
In 2024, China is anticipated to set a growth target of approximately 5%, in order to steer clear of the self-fulfilling negative cycle that a lower number could instigate. However, sustaining this level of growth poses a greater challenge due to the higher comparison base.
China's economy displays signs of weakness as factory activity has been shrinking which dropped to the lowest level in six months in December. The crackdown on China's gaming industry led to $80 billion in losses. Annual purchases of Chinese stocks by Foreign investors were the lowest in 2023 while higher interest rates overseas led to capital outflows.
(With inputs from agencies)
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
Related Premium Stories
Published: 01 Jan 2024, 06:38 AM IST
https://news.google.com/rss/articles/CBMiiAFodHRwczovL3d3dy5saXZlbWludC5jb20vbmV3cy93b3JsZC9jaGluYS1wcmVzaWRlbnQteGktamlucGluZy12b3dzLXRvLXN0cmVuZ3RoZW4tZWNvbm9taWMtcmVjb3ZlcnktYWZ0ZXItdG91Z2gteWVhci0xMTcwNDA3MTAzNDYzNi5odG1s0gGMAWh0dHBzOi8vd3d3LmxpdmVtaW50LmNvbS9uZXdzL3dvcmxkL2NoaW5hLXByZXNpZGVudC14aS1qaW5waW5nLXZvd3MtdG8tc3RyZW5ndGhlbi1lY29ub21pYy1yZWNvdmVyeS1hZnRlci10b3VnaC15ZWFyL2FtcC0xMTcwNDA3MTAzNDYzNi5odG1s?oc=5
2024-01-01 01:08:46Z
Tidak ada komentar:
Posting Komentar