China’s Communist Party Enforces New Economic Measures Amid Concerns of Missing Growth Targets

China’s ruling Communist Party, under President Xi Jinping, has ordered officials to implement measures to revive the economy, fearing a miss of the 5% growth target. Key focus areas include stabilizing the real estate market and introducing fiscal and monetary policies. Officials are urged to innovate to achieve economic recovery.

China's ruling Communist Party is tightening its grip on officials, mandating them to implement measures to rejuvenate the faltering economy amid fears of missing the 5% growth target for the year.

The Politburo, led by President Xi Jinping, has emphasized stabilizing the real estate market through enhanced fiscal and monetary support, according to state media reports.

"Party members and officials must take responsibility and innovate, using challenges as opportunities," reported state news agency Xinhua, citing the Politburo.

(With inputs from agencies.)