Chinese officials have acknowledged that China's economy is facing new challenges

According to the French International News on September 26, after China recently announced a series of measures to support economic activities, Chinese President Xi Jinping and other officials admitted that China's economy is facing new problems. China's statement in this regard was released after the end of the meeting of the central bureau of the Communist Party of China.
Analysts and investors believe that China, the world's second-largest economy, will need more government aid to reach its economic growth target of around 5% in 2024.
The summary of the meeting published by the China News Agency mentioned that the basic economic situation has not changed, and the market size and potential are high. At the same time, although China claims to be facing new situations and new problems in the economy, it is not clear what the new problems discussed are.
Agence France-Presse pointed out that China's large-scale real estate sector is facing an unprecedented crisis, and the low confidence of households and businesses in the Chinese economy has affected consumption. Also, geopolitical tensions with the United States and the European Union have formed a strong threat to China's foreign trade.
In the middle of this month, China decided to gradually raise the statutory retirement age starting next year, the first such change in decades.
Ahead of the Politburo meeting, the Chinese regime announced a series of economic stimulus measures, including lower interest rates and lower mortgage rates. The changes are China's biggest rate cut in recent years.