China Real Estate’s Nagging Woes Are ‘Top Priority,’ State Economist Says

China should waste no time in looking for medium- to long-term solutions to the problems plaguing the property sector that stem from a years-long pattern of high debt, high leverage and quick turnover, according to a senior economic official.

“Preventing and resolving the risks in the real estate market are a top priority,” said Han Wenxiu, a deputy director at the general office of the Central Financial and Economic Affairs Commission, during a Saturday meeting on the Chinese economy. The commission is chaired by President Xi Jinping.