China's consumption is sluggish and the real estate sector has collapsed. Nevertheless, Xi Jinping stoically sticks to restructuring the economy according to his own ideas.
The powerful party leader has gradually disempowered institutionalized structures and meetings that previously anchored the guardrails of economic planning. Xi envisions an industrial policy driven and controlled by the party state, for example to promote technology production - and not market-oriented reforms.Industrial policy instead of market reforms: How Xi Jinping wants to transform China's economy.