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China’s Great Slowdown

November

China’s industrial output grew at a faster pace last month than in September.

China factory output, retail sales beat expectations

The upbeat data comes after a raft of other indicators pointed to muted economic growth in recent weeks.

  • Ellen Zhang

October

The budget changes came during a flurry of announcements from the Standing Committee of the National People’s Congress, the Communist Party-controlled parliament that oversees government borrowing.

Xi steps up economic aid with new debt issuance, PBOC visit

China’s legislature approved a plan to raise the fiscal deficit ratio for 2023 to about 3.8pc of GDP— well above the 3pc set in March.

  • Bloomberg News

September

only around one-third of all urban residents and less than 10 per cent of rural residents have some form of central, provincial, or local government provided pension.

Japanification would be a good outcome for China

High debt, lower productivity and the lack of adequate provisions being made for the ageing population are a looming slow-motion financial and social train wreck.

  • John Lee
China’s ghost cities cannot be filled by official exhortations.

China learns nothing from the financial crises of others

Beijing’s reluctance to bite the bullet on bad assets looks like an error that the whole global economy may pay for.

  • Adrian Blundell-Wignall

August

China’s economy is contending with weak consumption, low factory output and a renewed liquidity crisis in the property sector.

Signs of revival amid weak China factory output

The Asian giant’s manufacturing sector shrank for a fifth straight month in August, as slowing global demand for goods dragged on its economy.

  • Zhu Lin
Economist Min Zhu was among the first to hint at China’s underwhelming post-COVID policy stimulus.

China draws debt-fuelled growth line in sand

By opting for surprisingly small measures, the Communist Party leadership is accepting an over-leveraged Chinese economy that cannot afford another round of debt-financed stimulus.

  • Stephen Roach
Chinese President Xi Jinping told the country’s young people to learn to “eat bitterness”

Why the sense of Chinese economic malaise is deepening

Beijing’s failure to bolster consumer confidence risks triggering a major crisis in its huge, opaque shadow banking sector.

  • Karen Maley