The economy expanded 4.6 per cent year on year in Q3, down from 4.7 per cent in Q2.
The economy expanded 4.6 per cent year on year in the third quarter, down from 4.7 per cent in the previous three months.- China posted its slowest growth in a year and a half on Oct 18, as Beijing struggles to steady an economy shaken by sluggish spending and persistent property sector woes.
The latest figures come as the authorities have started to sharply increase stimulus measures in an effort to ensure the economy meets the government’s 2024 growth target of around 5 per cent. Policymakers, who have traditionally leaned on infrastructure and manufacturing investment to drive growth, have pledged to shift focus towards stimulating consumption, but markets are awaiting further details of a planned fiscal stimulus package.
China’s export growth slowed sharply in September while imports also decelerated, undershooting forecasts by big margins and suggesting manufacturers are slashing prices to move inventory ahead of tariffs from several trade partners. China may raise an additional six trillion yuan from special treasury bonds over three years to help bolster the sagging economy through expanded fiscal stimulus, Caixin Global reported, citing multiple sources with knowledge of the matter.
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