China’s Senior Party Official: Economic recovery is not strong enough

At the Third Plenum conference on Friday, China's senior party official said that the economic recovery is not strong enough.

Additional takeaways

Need to implement macro policies more effectively..

Should speed up the issuance and use of special bonds.

Should give full play to the role of fiscal funds in leveraging economic growth and structural adjustment.

Monetary policy should be flexible, moderate, accurate and effective.

Maintain reasonable and abundant liquidity.

Should increase policy support so that enterprises and consumers tangibly benefit.

Make good use of funds from ultra-long term special bonds.

Should increase residents' property income through multiple channels.

Will improve the long-term expansion of consumption.

Will improve the mechanism for promoting high-quality full employment.

We should speed up the construction of a new model for real estate development.

Eliminate the past high debt, high turnover and high leverage model.

Build a model that better meets the expectations of the people, better mets demand for improved housing.

Need to establish appropriate financing, taxation, land sales systems.

High quality development of real estate still has considerable room for development.

We will expand domestic demand, especially consumer demand.

We should stabilise the basic situation of foreign trade and investment.

China's economy is big, with great potential for domestic demand.