Skip to playerSkip to main contentSkip to footer
Bangkok Post Group
  • 7/16/2024
China's economy grew much slower than expected in the second quarter, as a protracted property downturn and job insecurity knocked the wind out a fragile recovery, keeping alive expectations Beijing will need to unleash even more stimulus. - REUTERS

Category

🗞
News
Transcript
00:00China's economy grew much slower than expected in the second quarter, dragged down by a prolonged
00:07property crisis and job insecurity despite a strong beginning to the year. It's led to
00:12expectations that Beijing may need to unleash even more stimulus. Official data showed the
00:17world's second largest economy grew at 4.7 percent, the slowest since the first quarter
00:22of 2023 and missing a 5.1 percent forecast. The years-long property downturn deepened
00:29in June as new home prices fell at the fastest pace in nine years. Particular worry surrounds
00:35growth in retail. Businesses were forced to slash prices on everything from clothes to
00:40cars under deflationary pressure. Analysts say to expect cutting debt and boosting confidence
00:45to be the main focus at this week's third-party plenum, a key economic meeting that happens
00:51every five years. The government has been aiming for economic growth of 5 percent in
00:552024, a target that many think is too ambitious. To counteract weak domestic demand and property
01:03problems, China has already increased infrastructure investment and is focusing on high-tech manufacturing.
01:09Though now analysts at Citi, polled by Reuters, say they expect further measures to support
01:15property are coming after a meeting of the Politburo later this month.

Recommended

0:45
Up next
Trump’s BLS Nominee Faces Bipartisan Criticism
Benzinga
yesterday
0:52
Cava Group's Revenue Miss, EPS Beat-Shares Plunge On Softer Same-Store Sales Growth Expectations
Benzinga
yesterday
1:13
Economy: China's GDP tops forecast with 5.3% growth
AWANI
7/15/2025
1:40
China Q1 GDP growth beats expectations, but US tariffs cloud outlook
Bangkok Post Group
4/16/2025
0:33
China's Economy Grows at Slowest Rate Since Early 2023 Amid Property Slump
TaiwanPlus News
10/18/2024
0:31
China's October PMI For October Exceeds Expectations, Reflecting Moderate Recovery, Say Analysts
Benzinga
10/31/2024
0:45
China’s Industrial Profits Fall For Fourth Month In November Despite Stimulus MeasuresChina’s Industrial Profits Fall For Fourth Month In November Despite Stimulus Measures
Benzinga
12/27/2024
1:33
China’s first-quarter economic growth beats estimates as tariffs loom
euronews (in English)
4/16/2025
0:51
Mohamed El-Erian Notes China's Q2 GDP Growth Disappoints At 4.7% Amid Real Estate Woes
Benzinga
7/15/2024
2:13
China says extreme weather hurt economic growth, posts slump in property sector
The Star
9/14/2024
0:39
Chinese Stocks Plunge Over 7% Amid Weak Holiday Spending. Investors Grow Weary Of Beijing's Slow Stimulus.
Benzinga
10/9/2024
0:37
China's GDP grows 3.2% y/y in Q2, rebounds from Q1
Arirang News
7/16/2020
0:51
China's Economy Stumbles
Benzinga
10/18/2021
0:26
China To Increase Debt To Support Stimulus Package
TaiwanPlus News
10/14/2024
3:24
China's economic growth slows following COVID lockdowns - 1breakingnews.com
1BN-RADIO
7/15/2022
1:44
China’s Economic Growth Slows to Weakest In Decades
The Street
1/17/2023
0:39
People's Bank of China Implements Reserve Requirement Ratio Cut, Injects 1 Trillion Yuan
Benzinga
1/25/2024
3:00
Is China hiding its unemployment figures? Beijing's rising graduate numbers spark concern | Oneindia
Oneindia
8/9/2023
3:37
China's Rural Poor Struggle Despite New Economic Growth Targets
TaiwanPlus News
3/6/2025
0:37
China's New Yuan Loans Nearly Double in November, But Lag Last Year's Levels
Benzinga
12/9/2024
0:44
China's Economic Recovery Shows Signs of Strain as Property Investment Declines
Benzinga
6/17/2024
1:34
Factories, shops offer hope for China's economy
The Star
9/15/2023
0:38
Deflation Hits China for the First Time in Two Years
Benzinga
8/9/2023
2:17
Korea cuts 2019 economic growth outlook to between 2.4% and 2.5%
Arirang News
7/4/2019
0:21
China Beats Market Expectations To Hit 5% Growth Target for 2024
TaiwanPlus News
1/17/2025