China's Bold Plan to Revive Economy in 2024

China's top leaders have pledged to boost domestic demand, prioritize strategic sectors, and address the country's real estate crisis in an effort to achieve economic stability and recovery in 2024. The leaders acknowledged the challenges of insufficient demand, overcapacity in certain industries, weak social expectations, and hidden risks. They emphasized the importance of high-quality development, outlining a nine-point plan that includes technological innovation, boosting domestic consumption, attracting high-level foreign investment, and revitalizing agriculture. The leaders also addressed issues such as declining fertility rates, unemployment, and the resilience of domestic supply chains. They pledged to support private enterprises, foster innovation in science and technology, and implement proactive fiscal policies and prudent monetary action.