China’s economic conditions to improve in 2024

China’s Ministry of Finance has announced a plan to recover and upgrade all sectors in the new year 2024, led by the real estate sector, which has deteriorated considerably over the past period.

“China’s economy faces many challenges, contrary to expectations, over the coming year, as favorable conditions are stronger than unfavorable factors,” the Ministry of Finance said.

“A trillion Chinese yuan is to be pumped out of Chinese Treasury bonds as part of stimulus government policies in support of China’s economic recovery, and decisions on lowering interest rates, taxes, duties, and other decisions are likely in the coming year,” the Ministry added.

“Prices levels were falling significantly within China, and central government debt levels were not high, as China’s economy still had many conditions conducive to attracting foreign investment to reduce the deterioration of its real estate sector and market stability,” China’s Ministry of Finance explained.