INSUBCONTINENT EXCLUSIVE:
and retail sales rising, the government said Friday.But investments in property sank 9.4%, the National Bureau of Statistics said,
indicating the real estate sector has yet to recover from a crisis that has led dozens of developers to default on hundreds of billions of
10.1% jump in retail sales in November from a year earlier, up from a 7.6% jump in October, showed a glimmer of hope given that sluggish
A survey of factory purchasing managers, called the purchasing manager index, or PMI, showed a slightly bigger contraction in factory
activity compared with October, a fact that statistics bureau spokesperson Liu Aihua said was partly due to the fact that some industries
with growth ranging from 2.2% in 2020 to 8.4% in 2021 and 3% last year
Stringent limits on travel and other activities during the pandemic hit manufacturing and transport
Job losses due to those disruptions and to a crackdown on the technology sector, combined with a downturn in the property industry, have led
about 5% growth this year, helped by robust exports of industrial machinery, mobile phones and vehicles.Factory output rose 6.6% in November
compared with a year earlier, the statistics bureau reported
industries with low pay, it noted
Chinese also are cautious given the threadbare nature of social safety nets and the fact that the population is rapidly aging, putting a
that a prolonged downturn in the real estate sector would have wider ramifications and would further squeeze already strained local
Central Economic Work Conference earlier this week, which set priorities for the coming year, but state media reports on the gathering did
not provide specifics of policies.Real estate investment has fallen by 18% in the past two years, the World Bank report said
It said the value of new property sales fell 5% in January-October from a year earlier while new property starts dropped more than 25%
The slowdown was worst in smaller cities that account for about 80% of the market in the country of 1.4 billion people.To sustain solid
growth China needs a recovery in consumer spending, which took a nosedive during the omicron wave of COVID-19 and has remained below par
since late 2021, the report said.It noted that gains from more investments in construction in a country that already has ample modern roads,
