Analysis: Chinese leaders finally admit economic 'difficulties'

Katsuji Nakazawa is a Tokyo-based senior staff and editorial writer at Nikkei. He spent seven years in China as a correspondent and later as China bureau chief. He was the 2014 recipient of the Vaughn-Ueda International Journalist prize.

With the Shanghai Composite Index staging an incredible rally late last month and through the beginning of this week, Chinese leadership wanted to further enhance the exuberance.