Epstein Secrets

e investments face constraints as growth drivers. Financial risks have reached alarming levels. Environmental constraints are also clear. President Xi enters his second term. His speech in the 19th Party Congress suggests China will strive in the next few years for a new growth model - focusing mor

evels. Environmental constraints are also clear. President Xi enters his second term. His speech in the 19th Pa

3 January 2018 HY Corporate Credit HY Multi Sector.Media. Cable & Satellite China 2018 Outlook Striving for a new growth model China faces some structural challenges in the next five years. Global

longer a priority, instead, they will focus more on growth quality and containing risks. • At his speech addressing the party congress, President Xi emphasized growth quality over quantity more than any of his predecessors. Improving "social productivity", which had been the main goal of the par

• At his speech addressing the party congress, President Xi emphasized growth quality over quantity more tha

3 January 2018 HY Corporate Credit HY Multi Sector.Media. Cable & Satellite iFigure 41: China's leverage is ahead, Owne's debttoGDP tem dump 1980-1H l7 3:63 253 203 150 100 0 202 274 •13Sols

rnment finances. New growth engines President Xi ' s Oct speech pointed to a number of sectors t

3 January 2018 HY Corporate Credit HY Multi Sector.Media. Cable & Satellite The end of property cycle will negatively affect land sales revenue, which comprises 30% of local government r