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China needs to upgrade its market economy to tackle rising internal and external challenges
China should establish an efficient macroeconomic governance system that can coordinate long-term and short-term goals and integrate fiscal, monetary, industrial, technological and social policies
The China-Japan-South Korea trilateral summit shows that cooperation remains in the common interest
As close neighbors, the security and well being of China, Japan and South Korea are closely intertwined
Lifting restrictions on home-buying is necessary, but insufficient to prop up China’s property market
The government should focus on putting more existing houses on the market, rather than approving even more new property projects
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China needs to recalibrate its educational system amid demographic shift
The government could seize this opportunity to initiate reforms aimed at enhancing education quality through reducing class sizes.
Consumption remains key for China to achieve its growth target in 2024
To effectively unleash consumption power, the government needs to increase its inputs into social safety nets, including childcare, education, healthcare and pension funds
Developing inbound tourism requires efforts far beyond relaxing visa requirements
However, to effectively reestablish China as a popular tourism destination for international travelers, authorities need to go beyond relaxing visa requirements to improve their travel experiences