BEIJING: China’s GDP dipped to 4.7 per cent in the second quarter, the government said on Monday, as the ruling Communist Party began a key meeting stated to be a defining moment for President Xi Jinping’s leadership to revive the world’s second-largest economy.
The four-day meeting called the ‘Third Plenum’ is being attended by 376 full and alternate members of the Communist Party of China (CPC) Central Committee to primarily examine issues related to comprehensively deepening reforms and advancing China’s modernisation to work out a course correction for the economy plagued by deepening demographic crisis, sluggish growth and mounting local government debts.
Kicking off the meeting Xi 71, who is also general secretary of the party, delivered a work report and expounded on a draft decision of the CPC Central Committee on further comprehensively deepening reform and advancing Chinese modernisation, the official media reported.