China’s leaders have warned of “risks” in areas such as the country’s slumping property market, government debt and financial institutions at a top Communist party meeting, and called for tighter social controls to ensure stability.
The party’s Central Committee gave security the same level of importance as economic growth as it warned of geopolitical risks, saying China should “lead global governance” as it concluded the third plenum, one of its most important meetings, where it sets out medium- to long-term policies.
“It is necessary to co-ordinate development and security, implement various measures to prevent and resolve risks in key areas such as real estate, local government debt and small and medium-sized financial institutions,” policymakers wrote in a communiqué from the meeting.