Real Estate Risk, Domestic Demand Are Priorities - Han Wenxiu

Defusing real estate market risk and boosting domestic demand are the top priorities following the Central Economic Work Conference (CEWC), according to Han Wenxiu, the Deputy Director of Central Financial and Economic Commission. The CEWC said the foundation for economic recovery remains uncertain, and that policy next year should focus on expanding demand, upgrading to a modern industrial system, supporting SOE and private firms, attracting foreign capital, and preventing major economic and financial risks. Han said the easing of Covid restrictions will lead to a "J-curve effect", with short term disruptions followed by sustained recovery into next year.