China gears up for next week’s Third Plenum meeting. Here’s why real estate isn’t likely the main focus

Key Points

The much-anticipated policy meeting, scheduled for Monday to Thursday, is a major gathering of the top members of the ruling Communist Party of China that typically happens only once every five years.
This plenum was widely expected to be held last fall but has been delayed.
“The key challenge faced by Beijing is to find an alternative fiscal system, as the current one, which relies heavily on land sales, is under severe pressure due to the plunging land market,” Larry Hu, chief China economist at Macquarie, said in an email to CNBC.

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