Kế hoạch thúc đẩy tăng trưởng của Trung Quốc: Khẩu hiệu mới cho việc xây dựng nhà máy

nhà lãnh đạo Trung Quốc thúc đẩy chiến lược của họ, quốc gia khác lo lắng về tình trạng dư thừa năng lực sản xuất và có kế hoạch xuất khẩu nhiều hơn

From the top of the government, China is heavily promoting a plan to fix the country’s stagnant economy and offset the harm from a decades-long housing bubble (bong bóng nhà đất kéo dài hàng thập kỷ).

The program has a fresh slogan, presented foremost by Xi Jinping, the country’s top leader, as “new, quality productive forces.”

But it has features that are familiar from China’s economic playbook: The idea is to spur innovation and growth through massive investments in manufacturing, particularly in high-tech and clean energy, as well as robust spending on research and development. And there have been few concrete provisions for how the government hopes to persuade (thuyết phục) Chinese households to reverse a prolonged slowdown in spending (đảo ngược tình trạng bằng việc kéo dài việc chi tiêu chậm lại).

Consumer spending in China has been lackluster (mờ nhạt) as apartment prices have fallen by a fifth in the past two years, according to semiofficial data. The number of housing transactions has also plummeted. Homeowners complain that they must cut prices by up to half if they want to find buyers.

Real estate represents 60 to 80 percent of household assets, a much larger share than in most countries. So the near collapse of the housing market has left many families feeling less affluent and struggling to meet mortgage payments.

After a recent collapse in sales of public land to real estate developers, many local governments have had to cut pay for municipal workers and have needed assistance from Beijing to make interest payments. The Chinese finance ministry has begun a program to help some cities with their debts, provided they curtail costly but popular programs to build infrastructure.

source: nytimes,

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