China's Economic Challenges and Reforms Discussed at Third Plenum Meeting

China's leaders are convening for the Third Plenum to address pressing economic issues, such as the real estate debt crisis, weakening consumption, and an aging population. Despite aiming for 5% growth this year, the country's economic growth has slowed to 4.7% in the second quarter, exacerbated by trade disputes with the West.

The meeting, focusing on supporting hi-tech innovation and domestic consumption, aims to promote Deng Xiaoping's vision of 'high quality growth' and restore confidence among citizens and investors. With a looming need for deeper reforms to counter the economic slowdown, concerns over neglecting everyday population worries persist.

The leadership's focus on strengthening the high-tech industry and navigating challenges like the manufacturing glut and strained domestic spending highlights the complexities faced by the world's second-largest economy.