China's Xi Jinping vows to boost flagging economy in televised New Year's Day address

Chinese policymakers will try to boost growth, stabilise the nation's property market, and prevent the world’s second-largest economy from sleepwalking into deflation

President Xi Jinping delivers a New Year televised message in Beijing to ring in 2024. 

Chinese president Xi Jinping vowed to strengthen economic momentum and deliver on job creation, acknowledging some companies and citizens had a difficult 2023 in a rare admission of headwinds the country is facing.

While touting China’s achievements in his New Year’s message, the leader noted “some enterprises had a tough time” and “some people had difficulty finding jobs and meeting basic needs” in the past year.