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Treasury & Capital Markets
Three wishes for the 3rd Plenum
Reform and policy to support the development of China's economy
The Asset 9 Jul 2024

 

The transition of China’s economy from the old, highly leveraged and real-estate driven model to a new, environmentally friendly, and consumption-led model is well underway. Next week, the 3rd Plenary Session of the 20th Central Committee of the Chinese Communist Party (the 3rd Plenum) will take place in Beijing. This year, the 3rd Plenum will focus on deepening China’s economic reform and promoting China’s modernization.

At the 19th Asia Bond Markets Summit - China Edition in Shenzhen, The Asset spoke with Professor David Li Daokui, director, Academic Center for Chinese Economic Practice and Thinking, Tsinghua University. Prof. Li shares his views on the key issues of China’s economy, featuring the analysis of the Chinese government’s latest policies on the real estate sector and the local government debt restructuring, moves that will retrofit China’s economy for a better tomorrow.

In the conversation, Prof. Li also shared his three wishes on economic policies to be launched at the coming 3rd Plenum, including more supportive and material policies on the recovery of the property market, central government speeding up issuing more sovereign debt to swap for local government debt, and the shift of local government policy priorities from investment to boost citizen income and consumption.

Check out more the insightful sharing of Prof. Li on his three wishes for the 3rd Plenum in the above video. 

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