China's Leadership Meets for Consultations on Economic Policy

China's leadership has convened for the Third Plenary Session to discuss and set the economic policy agenda for the country. The second quarter's weak growth of 4.7% is attributed to the real estate crisis, declining retail sales, trade disputes, and an aging population.

State President Xi Jinping presented a reform resolution and activity report, but only modest changes are expected to promote high-tech industries, housing, and consumption. The statistical authority describes the economic environment as intertwined and complex, emphasizing the need to strengthen the foundations for a healthy economic recovery.

Analysts expect discussions on long-term structural reforms and big ideas rather than short-term political adjustments.