Xi Jinping, in his 2024 New Year wish, acknowledged that China’s economy faces difficulties. and is confident that Taiwan will be united as one
Chinese President Xi Jinping is another country leader who came out to give a message of good wishes for the 2024 New Year to the people, but this year the Chinese leader came in a strange way. Because it is difficult to admit that The Chinese economy in 2023 faces difficulties. both Chinese businesses that are struggling and workers who have problems finding work
This is the first time Xi has mentioned economic challenges in his annual New Year’s message since he began sending the message in 2013.
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This period is a critical juncture for China. The world’s second-largest economy is grappling with a structural slowdown caused by weak demand. rising unemployment rate and declining business confidence
Xi Jinping acknowledged the obstacles the country faced. “Some organizations are having a difficult time. Some people are struggling to find work and meet their basic needs…We will consolidate and strengthen the momentum of economic recovery.”
China’s large manufacturing sector has been weak for most of 2023 after a brief recovery in economic activity in the first quarter of last year. Then it shrank for 5 consecutive months until September.
China’s economy faces many problems in 2023, including a decline in the real estate industry. Unemployment among new students is at an all time high. and mounting financial stress on local governments.
China is struggling to revive growth and boost employment. They issued many support measures last year. and pledged to upgrade fiscal and monetary policy in 2024.
But a more statistical approach to the economy This emphasizes the control of economic and social affairs at the expense of the private sector to the state. frighten entrepreneurs Meanwhile, government crackdowns on business in the name of national security have also frightened foreign investors.
On December 30, the People’s Bank of China announced that has approved the removal of shareholders in Alipay, the digital payments platform operated by Jack Ma’s Ant Group, which means Ma has officially relinquished control of the company he co-founded.
Ma’s company was an early target of China’s unprecedented crackdown on big technology. The private sector is seen as having too much power in the eyes of the Communist Party.
In addition to economic matters In his New Year greetings for 2024, Xi Jinping also pledged that Mainland China will unite Taiwan. It reiterated its long-standing stance on democracy for Taiwan’s self-governing island. Ready to express opinions with strong words ahead of the important elections that will take place in the next 2 weeks. There will be a presidential election in Taiwan on January 13.
“China will definitely be united. And all Chinese people on both sides of the Taiwan Strait should be bound together by a sense of purpose and share the glory of the Chinese nation’s rejuvenation,” Xi said.
Xi then said, “People on both sides of the Taiwan Strait are members of the same family. I sincerely hope that Our compatriots on both sides of the Strait will work together in harmony. to jointly promote the sustainable prosperity of the Chinese nation.”
Compiled from CNN
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2024-01-01 10:14:00
