BANGKOK (AP) — China’s leaders are expected to search for ways to mend the country’s fractured property market, create jobs for millions of unemployed youths...
BANGKOK — China’s leaders are expected to search for ways to mend the country’s fractured property market, create jobs for millions of unemployed youths and spur faster growth in a meeting that reportedly began Monday in Beijing.
“Overall, the financial sector in China has made progress but at this moment they face challenges,” said Nakao. While longer-term reforms are likely on the agenda, he suggested that more immediate problems such as the real estate sector are a priority. A newly appointed finance minister, Lan Fo’an, will be taking on a substantial challenge given the tide of debt that has engulfed many local governments as revenues from land concessions, a major source of funding, have dried up with a property downturn.
The government has adopted various measures to try to contain fallout from the property crisis. It has eased controls on housing purchases and reduced the amount of funds banks must hold as reserves. It has adopted measures to, which provide the lion's share of jobs in China. It has also promised tax relief for small businesses and rural families.
Communications in Gaza were unavailable Saturday amid an Israeli bombardment, prompting Elon Musk to offer SpaceX's satellite internet service to aid groups.The US has threatened to stop supplying rifles to Israel after their national security minister was seen handing them out to civilians.