Challenges ahead

China's new leadership faces many pressing challenges, says an article by Reuters. Excerpts:

Since taking up the position of Party chief last November, Xi Jinping has focused attention on fighting corruption and promoting austere practices.

Many Chinese hope Xi will bring change in a country that has risen to become the world's second biggest economy but is marred by deepening income inequality, corruption and environmental destruction.

At the same time, his administration must deal with a slowdown in economic growth, juggle the urgent task of calming a frothy housing market, defuse local government debt risks and wean China off its addiction to investment-led expansion.

Xi will also have to deal with an increasingly provocative situation on the Korean Peninsula and ties with the United States, Japan and Southeast Asia.