Workers at a factory in Nantong, Jiangsu Province, China, produce lithium battery products for domestic and international markets.
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the world's second-largest economy Growth in the second quarter was much lower than expected, is particularly worthy of the attention of the consumer sector. Deflationary pressures force business retail sales growth to 18-month low Big price reduction Everything from cars to food to clothes.
And half of the 300 billion yuan ($41.4 billion) of ultra-long-term government bonds are owned by China’s state planners declare An amount will be allocated Thursday to support consumer trade-in programs, with the amount deemed Too little force to effectively promote economic recoveryas it is equivalent to only 0.12% of economic output and 0.3% of retail sales in 2023.
China's strong exports have provided some support to factory managers in recent months and pushed the government to meet its growth target of around 5%, but as more trading partners consider import tariffs, it is doubtful whether the boost will The jury is still out on continuation.
Outbound transportation Grow at the fastest speed Imports unexpectedly shrank in June, suggesting domestic demand remains weak and manufacturers are placing orders in advance to get ahead of tariffs imposed by trading partners.
The slump in domestic consumption is closely linked to falling real estate valuations, which make households feel poorer since 70% of household wealth is in real estate.
New home prices fell at the fastest pace in nine years in June.
Analysts expect that after this week’s Politburo meeting, the government will implement a new round of real estate support policy measures.
The official purchasing managers' index will be released on Wednesday. The private sector Caixin factory survey will be released on August 1.