(17 May 2024)
RESTRICTION SUMMARY:
ASSOCIATED PRESS
Beijing, China – 17 May 2024
1. Wide of news conference
2. Journalists
3. News conference panel
4. SOUNDBITE (Mandarin) Liu Aihua, Chinese National Bureau of Statistics spokesperson:
“The complexity, severity, and uncertainty of the current external environment are significantly increasing. There is insufficient effective domestic demand, high business pressure, and many risks and hidden dangers. The domestic circulation is not smooth enough, and the foundation for recovery needs to be strengthened.”
5. Journalist asking question
6. Journalists
7. SOUNDBITE (Mandarin) Liu Aihua, Chinese National Bureau of Statistics spokesperson:
“We need to coordinate and study the policy measures for digesting existing properties and optimizing incremental housing based on the new changes in the supply and demand of the real estate market and the new expectations of the people for high-quality housing, and accelerate the construction of new models for real estate development to promote high-quality real estate development.”
8. Journalists
9. News conference panel
10. SOUNDBITE (Mandarin) Liu Aihua, Chinese National Bureau of Statistics spokesperson:
“In the next stage, large-scale equipment updates in the industrial sector and the policy of exchanging old for new consumer goods will release greater market space. The vigorous development of information technology, digital technology, intelligent technology, and green technology will further help accelerate the cultivation and growth of new driving forces, and enhance the driving force of industrial development. At the same time, the confidence of operating entities has also been continuously increasing in the past two months. The Purchasing Managers Index of the manufacturing industry has been in an expansion range for two consecutive months, and the year-on-year growth rate of profits of industrial enterprises above designated size has been increasing for three consecutive quarters. These factors will provide strong support for the sustained recovery of the industrial economy.”
11. Journalist asking question
12. Journalists
13. SOUNDBITE (Mandarin) Liu Aihua, Chinese National Bureau of Statistics spokesperson:
“The overall consumer market is showing a sustained recovery trend. However, it should also be noted that the consumption capacity and confidence of residents still need to be further improved. In the next stage, as new consumption scenarios continue to emerge, new business formats accelerate integration, consumption space continues to expand, and consumer goods trade in policies are gradually implemented to promote consumption, the consumption potential is expected to be continuously unleashed.”
14. Journalist
15. Wide of news conference
STORYLINE:
Housing prices in China slumped in the first four months of the year, although factory output rose nearly 7%, according to data released Friday, as the country prepares to announce fresh measures to reinvigorate its ailing property industry.
Officials of the National Bureau of Statistics acknowledged that domestic demand — spending by consumers and businesses — remained “insufficient” and said the government was considering further ways to revitalize the property industry after housing prices sank 9.8% in January-April from a year earlier.
The State Council, China’s Cabinet, said it would hold a news conference later Friday focusing on the property industry.
Dozens of developers, whose legions of high-rise apartments have transformed urban landscapes across China, have defaulted on their debts.
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