President Xi Jinping pledged to substantially grow’ China’s middle-income group as a share of the total population by 2035, with analysts urging greater development of the private economy.
As the world’s second-largest economy moves toward self-sufficiency, concerns are rising that inward-looking priorities could undermine Beijing’s commitment to open up, while foreign investors feel neglected.
The state-backed real estate giant’s announcement comes as President Xi Jinping underscores the critical role of Hong Kong during the Chinese Communist Party’s 20th national congress in Beijing.
Xi’s power-adulterated vision that has already dented economic and political party-state institutional authority is likely to dampen China’s thus-far sweltering rise.