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And so that’s why you see this. It’s a profound problem across local newspapers all around the country and in fact the world. So I had to do some soul searching and I said, is this something I want to get involved in? If I’m going to do it, I’m going to put some heart into it and some work into it. I decided I would only do that if I really believed it was an important institution. I said to myself, if this were a financially upside down salty snack food company, the answer would be no. But as soon as I started thinking about that way, I was like, this is an important institution. It is the newspaper in the capital city of the most important country in the world. The Washington Post has an incredibly important role to play in this democracy. There’s just no doubt in mind about that.

An out-of school English-language class is held in Zhengzhou, Henan province. [Photo/VCG]

An unrealistic target would push local governments to take aggressive stimulus measures, especially by promoting infrastructure investment. That could lead to a "flood" of monetary easing, and capital-intensive infrastructure investments would not be helpful for reducing unemployment in the short run, he said.

Analysts warned that China's corporate sector was feeling the stress and expected a tougher time, as funding costs were rising and could rise further, while credit would become harder to access, especially for small and medium-sized firms.

An up-close look at HomePod. (Apple Photo)