{"id":115528,"date":"2024-10-18T10:29:47","date_gmt":"2024-10-18T03:29:47","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=115528"},"modified":"2024-10-18T10:29:47","modified_gmt":"2024-10-18T03:29:47","slug":"china-economy-slowdown-deepens-official-figures-show","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=115528","title":{"rendered":"China economy slowdown deepens, official figures show"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div id=\"\">\n<figure>\n<div data-component=\"image-block\" class=\"sc-18fde0d6-0 ejjhCR\">\n<div data-testid=\"hero-image\" class=\"sc-a34861b-1 jxzoZC\"><img decoding=\"async\" src=\"https:\/\/www.bbc.com\/bbcx\/grey-placeholder.png\" class=\"sc-a34861b-0 cOpVbP hide-when-no-script\"\/><img decoding=\"async\" sizes=\"(min-width: 1280px) 50vw, (min-width: 1008px) 66vw, 96vw\" srcset=\"https:\/\/ichef.bbci.co.uk\/news\/240\/cpsprodpb\/c27d\/live\/2aa69ed0-8c5b-11ef-9f4a-8bfe5180b338.jpg.webp 240w,https:\/\/ichef.bbci.co.uk\/news\/320\/cpsprodpb\/c27d\/live\/2aa69ed0-8c5b-11ef-9f4a-8bfe5180b338.jpg.webp 320w,https:\/\/ichef.bbci.co.uk\/news\/480\/cpsprodpb\/c27d\/live\/2aa69ed0-8c5b-11ef-9f4a-8bfe5180b338.jpg.webp 480w,https:\/\/ichef.bbci.co.uk\/news\/640\/cpsprodpb\/c27d\/live\/2aa69ed0-8c5b-11ef-9f4a-8bfe5180b338.jpg.webp 640w,https:\/\/ichef.bbci.co.uk\/news\/800\/cpsprodpb\/c27d\/live\/2aa69ed0-8c5b-11ef-9f4a-8bfe5180b338.jpg.webp 800w,https:\/\/ichef.bbci.co.uk\/news\/1024\/cpsprodpb\/c27d\/live\/2aa69ed0-8c5b-11ef-9f4a-8bfe5180b338.jpg.webp 1024w,https:\/\/ichef.bbci.co.uk\/news\/1536\/cpsprodpb\/c27d\/live\/2aa69ed0-8c5b-11ef-9f4a-8bfe5180b338.jpg.webp 1536w\" src=\"https:\/\/ichef.bbci.co.uk\/news\/480\/cpsprodpb\/c27d\/live\/2aa69ed0-8c5b-11ef-9f4a-8bfe5180b338.jpg.webp\" loading=\"eager\" alt=\"Getty Images A worker works on the production line of a wind power equipment manufacturing enterprise in Baishui County, Weinan, China, on 16 October, 2024.\" class=\"sc-a34861b-0 efFcac\"\/><span class=\"sc-a34861b-2 fxQYxK\">Getty Images<\/span><\/div>\n<\/div>\n<p><figcaption class=\"sc-8353772e-0 cvNhQw\">Gross domestic product rose by 4.6% on an yearly basis, below the government&#8217;s 5% annual target<!-- --><\/figcaption><\/p>\n<\/figure>\n<div data-component=\"text-block\" class=\"sc-18fde0d6-0 dlWCEZ\">\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">China&#8217;s economy expanded in the third quarter at the slowest pace since early last year, as the country struggles to boost flagging growth.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">On an annual basis, gross domestic product (GDP) rose by<!-- --><b id=\"\" class=\"sc-7dcfb11b-0 kVRnKf\"> <!-- --><\/b>4.6%,<!-- --><b id=\"\" class=\"sc-7dcfb11b-0 kVRnKf\"> <!-- --><\/b>according to China&#8217;s National Bureau of Statistics. That is below the government&#8217;s &#8220;around 5%&#8221; target for this year.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">However, it was slightly better than analysts expected, while other official figures released on Friday, including retail sales and factory output, also beat forecasts.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">In recent weeks, Beijing has announced a number of measures aimed at supporting growth.<!-- --><\/p>\n<\/div>\n<div data-component=\"text-block\" class=\"sc-18fde0d6-0 dlWCEZ\">\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">This is the second quarter in a row that China&#8217;s official measure of economic growth has fallen below the 5% target, which will add to government concerns.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">&#8220;The government\u2019s growth target for this year now appears in serious jeopardy,&#8221; the former head of the International Monetary Fund&#8217;s (IMF) China division, Eswar Prasad told BBC News.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">&#8220;It will take a substantial stimulus-fuelled boost to growth in the fourth quarter to hit the target.&#8221;<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Official figures also showed new home prices in China fell in September at the fastest pace in almost a decade, indicating that the downturn in the property sector is worsening.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">&#8220;The property market unsurprisingly remains the biggest drag on China&#8217;s growth,&#8221; said Lynn Song, chief economist for greater China at banking giant ING.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">&#8220;New investment is unlikely to see a substantive recovery until prices stabilise and housing inventories decline&#8230; until then property will remain a notable headwind to growth.&#8221;<!-- --><\/p>\n<\/div>\n<div data-component=\"text-block\" class=\"sc-18fde0d6-0 dlWCEZ\">\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Earlier on Friday, China&#8217;s central bank said it had held a meeting to call on banks and other financial institutions to boost lending to help support growth.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Last month, the People&#8217;s Bank of China (PBOC) announced the country&#8217;s biggest stimulus package since the pandemic, including large cuts to interest and mortgage rates.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">The plans also included help for the flagging stock market and measures to encourage banks to lend more to businesses and individuals.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Since then, the Ministry of Finance and other government bodies have unveiled further plans aimed at boosting economic growth.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">The world&#8217;s second largest economy has been hit by a number of challenges, including a property crisis, as well as weak consumer and business confidence.<!-- --><\/p>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.bbc.com\/news\/articles\/crr54x00857o\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Getty Images Gross domestic product rose by 4.6% on an yearly basis, below the government&#8217;s 5% annual target China&#8217;s economy expanded in the third quarter at the slowest pace since &hellip; 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