China's economy is in so much trouble that even Xi Jinping's admitting that businesses are having a 'tough time'

• Chinese leader Xi Jinping acknowledged challenges in China's economy in a Sunday speech.
• He admitted that companies have had a "tough time," and that people have had "difficulty finding jobs."
• An survey of manufacturers showed December factory activity contracted for the third straight month.

China's economy has been struggling to stage a convincing comeback. Now, even Chinese leader Xi Jinping has acknowledged the many challenges the country's economy faced in 2023.