China's Economy "Facing New Difficulties", Say Top Leaders 

The post-Covid recovery in the world's second-largest economy has been running out of steam in recent months, due in large part to sluggish consumer spending.

Beijing, China: China's top leaders said the country's economy was facing "new difficulties and challenges" in a meeting of the 24-person Politburo on Monday, state media reported.

facing new difficulties and challenges, mainly due to insufficient domestic demand,  operational difficulties for some enterprises, high risks and hidden dangers in key areas, and a complex and severe external environment," a readout of the meeting on state broadcaster CCTV said.

China's leaders meet annually at the end of  July to review the country's economic situation before their traditional summer break in August.