NNA – Chinese President Xi Jinping said that China#39;s economic recovery is quot;still at a critical stagequot;, state broadcaster CCTV reported Friday, as sluggish domestic activity and property sector woes drag on a post-pandemic rebound.
The world#39;s second-largest economy expanded a moderate 4.9 percent in the third quarter, slightly less than Beijing#39;s five percent target, which is one of the lowest in years.
quot;At present, the country#39;s economic recovery is still at a critical stage,quot; Xi said at a meeting of China#39;s Communist Party Politburo, the country#39;s top decision-making body, according to CCTV.
Xi urged measures to boost the economy, saying that quot;the development situation facing the country is complex, with increasing adverse factors in the international political and economic environmentquot;.
quot;It is necessary to focus on accelerating the construction of a modern industrial system, expand domestic demand, (and) prevent and defuse risks,quot; said Xi.
Xi also emphasised the need to shore up quot;self-reliancequot; in key science and technology sectors, and to quot;accelerate the construction of a new development layoutquot;. — AFP
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