Premier Li Qiang’s recent remarks on shoring up real estate sector suggest what some analysts say is a rising wariness to address persistent economic pitfalls
Premier Li Qiang’s remarks on further shoring up the property sector and escalating policy support are said to be indicative of Beijing’s lingering concerns over the sector – once an economic pillar for China – that remains a drag on growth and consumption, as seen in the latest statistics.
Analysts say that while there is no quick fix to the woes, Beijing has grown more wary of the impact on overall sentiment and domestic demand, as the economy grapples with external turmoil.
A State Council meeting convened by Li on Friday set a more definitive tone on supporting China’s property market, which came ahead of Monday’s release of key economic data for the January-May period.
The meeting underscored the need to “further optimise existing policies and enhance systematic synergy of implementation” to stabilise expectations, stimulate demand and mitigate risks, the state’s Xinhua reported.
