“China’s economy is facing new difficulties and challenges, which mainly arise from insufficient domestic demand, difficulties in the operation of some enterprises, risks and hidden dangers in key areas, as well as a grim and complex external environment,” the Politburo said, according to state news agency Xinhua. Economists said it was the first time Mr Xi’s top decision-making body had directly acknowledged the key risks to hitting 5 per cent growth forecasts this year. It followed a series of pledges in the past month to take a more business-friendly approach, as concerns mount about weak consumer confidence, slowing exports, unemployment,…