China's economic growth sharply below forecast in last quarter as consumer demand weakens
World | July 15, 2024 12:26 ISTThe economists cited weak consumer demand and reduced government spending as possible causes for the development.
The economists cited weak consumer demand and reduced government spending as possible causes for the development.
Retail spending is recovering more slowly than expected because jittery consumers worry about the economic outlook and possible job losses.
Jinping's critical remarks came amid the fact it has been facing external threats from the West over a series of issues including its closeness with Russia amid the relentless war against Ukraine and the Indo-Pacific issue.
For the first nine months of 2022, growth was 3% over a year earlier, up from 2.5% in the first six months but barely half the ruling party's official 5.5% target.
Experts have pointed out how China's GDP expanded just 4 per cent in the last quarter of the year compared to a year prior, the slowest pace in a year and a half.
In addition, the liquidity of another 750 billion yuan (USD 110 billion) will be injected into the market for lending, according to the PBOC statement.
The International Monetary Fund (IMF) today said that with a growth forecast of 6.6 per cent for 2017, China’s GDP continues to decelerate as it transitions from an export and investment based economy to one based on domestic consumption.
In signs that setting up businesses is no cake walk for aspiring entrepreneurs in China, the world’s second largest economy, a recent report has claimed that about 110 Japanese firms went bankrupt in China last
Washington: A scary sell-off in Chinese stocks is magnifying concerns about the health of the world's second-biggest economy.The Shanghai Composite Index on Thursday tumbled 7 percent in 30 minutes before trading was suspended. The damage
Beijing : China's National Bureau of Statistics (NBS) plans to revise the current system of measuring the national economy in line with latest international standards, an NBS official has revealed.The new system will reckon spending
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