The Chinese economy is currently facing certain challenges, but they cannot be simply classified as "very bad". The slowdown in economic growth and structural problems are the main problems currently faced. The following are several key aspects:

1. Slowing economic growth: China's economic growth will slow down significantly in 2023 compared with the past few decades, although there is still positive growth. China has entered the "medium-speed growth" stage from the high-speed growth stage. Falling external demand, slowing exports, and heightened global economic uncertainty are all factors behind the slowdown in economic growth.

2. Real estate crisis: The real estate industry is an important pillar of China's economy. In recent years, the instability of the real estate market, especially the debt defaults or financial difficulties of many large real estate developers, has brought shocks to the overall economy. The government has tried to stabilize the industry through different means, but weak demand and investment remain a challenge.

3. Weak consumption: Despite the government’s efforts to boost domestic demand, household consumption growth remains relatively slow, partly due to the slower-than-expected economic recovery after the pandemic and insufficient consumer confidence, especially in large-ticket items and real estate-related consumption.

4. Local government debt pressure: China's local government debt is huge, especially during the epidemic. In order to stimulate the economy, local governments have increased infrastructure investment, and the debt burden has increased. The debt problem may put pressure on fiscal policy in the short term.

5. Global environment and geopolitical impact: Sino-US trade frictions, technology blockades, and the reorganization of the global supply chain have had an impact on China's foreign trade and technology industries. China is trying to respond to these external challenges through industrial upgrading, independent innovation, and international cooperation.

Nevertheless, the government is still responding to these problems through a variety of policy tools, including monetary easing, fiscal stimulus, and support for strategic industries such as high-tech manufacturing and green transformation. The Chinese economy is not in a state of collapse, but it needs to face the challenges brought about by structural adjustments and the new global economic environment.