China's High-Level Meeting: Real Estate, Local Debt Cleanup, Financial Development, and Party Control
China expressed support for property developers and addressing local government debt issues during a high-level financial meeting. The conference emphasized treating private and state-owned developers equally and meeting their reasonable funding demands. Beijing aims to establish long-term mechanisms to resolve local government debt and optimize the structure of central and local government debt. While the government has eased restrictions on home purchases and provided support for developers, it has not implemented a full-scale bailout for the struggling real estate sector. The meeting also highlighted the Chinese Communist Party's increased oversight of finance and focused on regulatory pressure to prevent new risks.