Recap | China’s stimulus boosts retail sales, GDP hopes amid debt relief concerns: 5 China economy stories
October data shows retail sales improvement and easing unemployment, but concerns remain over Beijing’s stimulus efforts. Here are five economy stories
1. China stimulus boosts retail sales and GDP hopes amid calls for decisive support
China’s retail sales continued to improve in October following a raft of stimulus policies, but property investment remains a drag. With 2024 nearing its end, Beijing is intensifying stimulus efforts to meet its 5 per cent GDP target.
2. China’s US$833 billion debt relief plan may fall short, economists call for stronger stimulus
China’s new debt-relief plan may not be enough to reassure foreign investors or stimulate consumption, warn economists, as they fear a focus on reinforcing weaker sectors might not sufficiently address concerns. With upcoming key political meetings, global investors await additional pro-growth measures from China.
3. China’s central bank pledges to boost monetary policies amid credit uptick
The People’s Bank of China vows to intensify supportive monetary policies, focusing on the real economy, to stabilise the yuan and reduce financing costs amidst global economic uncertainties.
