‘Two sessions’ 2024: Xi Jinping says while China pursues ‘new productive forces’, it must avoid economic bubbles

by Frank Chen at scmp.com

Chinese President Xi Jinping warned on Tuesday that the promotion of new productive forces as growth catalysts must not give rise to economic bubbles or unfettered expansion as Beijing seeks to build momentum in solidifying the nation’s recovery.

“In the face of a new round of technological revolution and industrial transformation, we must seize opportunities, increase innovation, cultivate and expand emerging industries, and plan future industries in advance,” Xi told his fellow deputies in the Jiangsu province delegation during a panel discussion, following the opening of the second session of the 14th National People’s Congress.