Commentary The new year is less than a month old, and economic challenges are already piling up for Beijing. It’s a pivotal year for the Chinese Communist Party (CCP), which is expected to announce a new slate of leadership (besides Xi Jinping) later this year. How well (or poorly) the Party handles the country’s economy and health will be critical going forward. Real estate risks remain front and center. Despite turning the page to a new year, last year’s property sector issues persist.  Embattled real estate developer China Evergrande remains embattled. After missing interest payment on a dollar-denominated bond in December, Evergrande’s shares were temporarily suspended from trading in Hong Kong after authorities in Hainan Province ordered the firm to demolish 39 under-construction buildings. Another developer, Shimao, reportedly missed an interest payment on a trust loan product.  The real estate sector remains an urgent issue for Beijing. Credit ratings firm …