China's economy has a bumpy road ahead. Officials said
on Friday, they said a list of economic goals
from a key Communist Party meeting this week had many
complex contradictions. Yu is part of the Central Committee's
policy research office. Pushing forward Chinese style, modernization
faces many complex conflicts and problems and we must overcome
multiple difficulties and obstructions through further comprehensive deepening of reforms
, promoting better alignment between production relations and productive forces
, the superstructure and economic base state governance and social
development for deep changes in China's economy has risen this
year as consumer and business sentiment hit near record lows
. Global leaders have also grown more concerned with China's
export dominance. The comments come following a four day
closed door meeting led by President Xi Jinping which takes
place once in roughly five years. Officials there made
a number of seemingly contradictory pledges including modernizing the industrial
complex while also expanding domestic demand. They also talked
of stimulating growth and simultaneously curbing debt risks. The
initial summary of the meeting didn't contain details of how
Beijing plans to resolve tensions between policy goals. One
such contradiction would be how to get consumers to spend
more while resources flow mostly to producers and infrastructure market
concerns are growing that a structural shift is needed to
give consumers a greater role in the economy. Without
that, analysts say debt could outpace growth to finance
Beijing's industrial modernization and global prominence goals. Some analysts
warn the current path fuels risks of a prolonged period
of near stagnation and persistent deflation threats as seen in
Japan. Since the 1990 China is expected to publish
a document with more detailed policy plans in the coming 00:02:07.299 --> days.