China’s Xi says economy ‘faces numerous difficulties’ ahead of major meeting

Chinese President Xi Jinping has admitted the country’s economy still faces “numerous difficulties” in an article set to be published this week ahead of a major political meeting in Beijing, state media said Friday.

“At present, the unfavourable impact of changes in the external environment has deepened, and China’s economy still faces numerous difficulties and challenges,” Xi wrote in an article in Qiushi, the ruling Communist Party’s official journal, Xinhua news agency said.

“At the same time, it must be recognized that China’s economic fundamentals remain solid, with numerous advantages, strong resilience, and vast potential,” the Chinese leader added.

“The conditions supporting long-term growth and the overall positive trajectory have not changed,” he said.

China’s leadership convenes next week for the “Two Sessions” meetings, where analysts expect them to hammer out plans to shield the ailing economy from tariffs and trade threats from US President Donald Trump.

All eyes will be on Wednesday’s opening of the National People’s Congress parliament, where Premier Li Qiang will lay out economic growth goals for 2025.