BEIJING: Data from China on Thursday (Sep 7) showing falling exports fanned more fears about a slowdown in the world's second-biggest economy, which has struggled with its post-COVID recovery.
, which has struggled with its post-COVID recovery.
But the highly anticipated economic rebound was weaker than expected and did not reach all sectors - industrial production, for example, is still struggling.As many other major economies grapple with inflation, consumer prices in China fell by 0.3 per cent year-on-year in July to enterauthorities suspended the publication of that dataAnalysts say these trends are increasingly pushing China's annual growth objective of around five per cent out of reach.
Authorities unveiled steps in July aimed at stimulating the purchase of home appliances and electric vehicles.And to further boost activity, China's central bank has recently cut two reference rates, hoping to encourage commercial banks to grant more credit and on more attractive terms. "The economy simply cannot recover until the property market improves," warns research firm Gavekal Dragonomics.
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