"There are more potential risks in the real estate market and some small and medium-sized financial institutions are exposed to risks," Premier Li Keqiang said in the work report.
Li made guarding against risks to top property developers this year one of the government's priorities this year, following through on the work done at a key economic meeting in December. He also said the government would resolve housing issues for young people and support the needs of homebuyers. China will also insist that "housing is for living, not for speculation," according to a separate report by the state economic planner, though Li did not mention it in the government 2023 work outlook.
gotcha
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: