China's leaders vow to fight 'risks' plaguing economy

All eyes were on how this week's Third Plenum meeting of the Communist Party in Beijing, attended by President Xi Jinping, might tackle China’s deepening economic malaise. State media reported that Chinese leaders had agreed to "prevent and resolve risks in key areas such as real estate, (and) local government debt" and vowed to "actively expand domestic demand". Hoo Tiang Boon at NTU in Singapore told AFP the statement "acknowledges certain risks and obstacles to the Chinese economy". "It's a sign that Beijing recognises the problems, but I'm not sure if they know what are the effective measures to address them," he said. The Third Plenum has for decades been an occasion for the party's top leadership to unveil major economic policy shifts.

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