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☆ China is hiding key data to pretend its economy is doing OK. It's not.
▼ + stars: | 2023-08-16 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

China is hiding unflattering data, with its economy struggling. The National Bureau of Statistics didn't report youth unemployment numbers this month. The National Bureau of Statistics said Tuesday it would stop releasing youth unemployment numbers, after joblessness among 16-to-24 year olds spiked to 21% in June. China's economy could be a "ticking time bomb", the President told a fundraiser event in Utah, adding that "when bad folks have problems, they do bad things." Those measures could help jumpstart China's struggling economy – but trying to turn off the bad news tap will not.

Persons: Brad Setser, Joe Biden, jumpstart Organizations: National Bureau, Statistics, Financial Times, Service, National Bureau of Statistics, Treasury Locations: China, Beijing, Wall, Silicon, Japan, Utah, China's

Construction workers take a nap in front of a wall of a construction site during their lunch break in Beijing, China, May 5, 2015. REUTERS/Kim Kyung-Hoon /File PhotoAug 15 (Reuters) - China suspended publication of its youth jobless data on Tuesday, saying it needed to review the methodology behind the closely watched benchmark, which has hit record highs in one of many warning signs for the world's second-largest economy. Fu Linghui, a spokesman for the National Bureau of Statistics (NBS), said the release of data would be suspended while authorities look to "optimise" collection methods. "The declining availability of macro data may further weaken global investors' confidence in China," said Ting Lu, chief China economist at Nomura, adding that youth unemployment was expected to have risen in July. The most recent NBS data on youth unemployment, published last month, showed the jobless rate jumping to a record high of 21.3% in June.

Persons: Kim Kyung, Fu Linghui, Fu, Ting Lu, Tuesday's, Laurie Chen, Albee Zhang, Muralikumar Anantharaman, Sam Holmes, Gerry Doyle Organizations: REUTERS, National Bureau of Statistics, Nomura, China News Service, Thomson Locations: Beijing, China, Weibo

Nomura analysts were equally downbeat on China's economic outlook. Most economists see downside risk to Chinese growth but they don't expect a recession. It was the slowest growth since December 2022, and shows just how much of a challenge authorities face as they try to make consumption the key driver of future economic growth. MORE STIMULUSAsian stocks stalled at one-month lows, the yuan hit a 9-month nadir while the dollar held broadly firm after the weak Chinese data and latest policy easing measures. But we do need to lower our expectations for China's growth."

Persons: Julian Evans, Pritchard, Nomura, Nie Wen, Robert Carnell, Liangping Gao, Albee Zhang, Shri Navaratnam Organizations: National Bureau of Statistics, Capital Economics, Retail, Hwabao Trust, Investment, Reuters, ING, NBS, Nomura, Thomson Locations: BEIJING, Beijing, China, Asia, Pacific

☆ Australia Q2 wage gains underwhelm, argue against further hikes
▼ + stars: | 2023-08-15 | by ( Stella Qiu | ) www.reuters.com time to read: +3 min

"Wage growth has been stuck at 0.8% q/q for the past three quarters – a somewhat surprisingly slow pace given the very low level of the unemployment rate," said Sean Langcake, head of macroeconomic forecasting for Oxford Economics Australia. Despite higher interest rates, Australia's jobless rate is hovering near 50-year low of 3.5% and the economy is adding more jobs than expected. The RBA now sees a credible path where inflation could be restrained with interest rates at their current level, minutes showed on Tuesday. The path involves annual wage growth peaking at 4.1% by the end of the year before easing back to 3.6% by end-2025, according to the bank's latest forecasts. The ABS data showed wages in the public sector picked up to an annual rise of 3.1% while growth in private sector wages increased 3.8%.

Persons: David Gray, Sean Langcake, Andrew Boak, Goldman Sachs, Stella Qiu, Kim Coghill, Sonali Paul, Simon Cameron, Moore Organizations: REUTERS, Reserve Bank of Australia, Australian Bureau, Statistics, Oxford Economics, Thomson Locations: Newcastle, Sydney, Australia, SYDNEY, Oxford Economics Australia

Asian stocks were down and the dollar held firm after the weak Chinese data and latest policy easing measures. Investment in the property sector tumbled 8.5% year-on-year in January-July, after shrinking 7.9% in January-June, extending its fall for the 17th consecutive month. Demand for the property sector, once a pillar of economic growth, has remained weak in recent weeks. The nationwide survey-based jobless rate climbed slightly to 5.3% from 5.2% in June. After the youth jobless rate rose to record high of 21.3% in June, NBS spokesperson Fu Linghui said at Tuesday's press conference the bureau will suspend publishing the survey-based jobless rate for the 16-24 years old from August, adding China will further improve its employment statistics.

Persons: Julian Evans, Pritchard, Bruce Pang, Jones Lang Lasalle, Fu Linghui, Albee Zhang, Liangping Gao, Shri Navaratnam Organizations: National Bureau of Statistics, Retail, Capital Economics, Jones, Investment, Communist Party, NBS, Thomson Locations: BEIJING, China

☆ China stats bureau sees no deflation risks, plays down property woes
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: 1 min

A customer shops for vegetables at a wet market in Beijing, China August 10, 2023. REUTERS/Yew Lun TianBEIJING, Aug 15 (Reuters) - There is no deflation in China and there will be no deflation in the future, a spokesman of China's statistics bureau said on Tuesday. China's economic recovery faces challenges, National Bureau of Statistics spokesperson Fu Linghui told a press conference in Beijing. Still, the bureau expects a decline in producer price index to moderate further, according to Fu. Fu also said that risks for property developers could be gradually resolved due to policy optimisation.

Persons: Lun Tian, Fu Linghui, Fu, Muralikumar Organizations: REUTERS, National Bureau of Statistics, Beijing, Thomson Locations: Beijing, China, Lun Tian BEIJING

☆ China Suspends Report on Youth Unemployment, Which Was at a Record High
▼ + stars: | 2023-08-15 | by ( Claire Fu | More About Claire Fu | ) www.nytimes.com time to read: +1 min

The Chinese government, facing an expected seventh consecutive monthly increase in youth unemployment, said Tuesday that it had instead suspended release of the information. The unemployment rate among 16- to 24-year-olds in urban areas hit 21.3 percent, a record, in June and has risen every month this year. It was widely forecast by economists to have climbed further last month. Fu Linghui, a spokesman of the National Bureau of Statistics, said at a news briefing that the government would stop making public employment information “for youth and other age groups.” He said the surveys that government researchers use to collect the data “need to be further improved and optimized.”China’s youth unemployment rate has doubled in the last four years, a period of economic volatility induced by the “zero Covid” measures imposed by Beijing that left companies wary of hiring, interrupted education for many students, and made it hard to get the internships that had often led to job offers.

Persons: Fu Linghui, ” Organizations: National Bureau of Statistics Locations: Beijing

☆ China reports big data miss in July, stops releasing youth unemployment numbers
▼ + stars: | 2023-08-15 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Retail sales rose by 2.5% in July from a year ago, below expectations for a 4.5% increase, according to analysts polled by Reuters. Within retail sales, catering saw the biggest increase of 15.8%, while sports and entertainment products saw a 2.6% year-on-year increase. Retail sales posted the slowest growth since a decline in December, according to official data. Top leaders in late July signaled a shift away from its crackdown on real estate speculation. But the overall approach to additional stimulus has been cautious, especially in real estate.

Organizations: Bloomberg, Getty, National Bureau, Statistics, Reuters, National Bureau of Statistics, CNBC, Authorities Locations: BEIJING, China

☆ Cramer points out stocks to watch as China's economy slows down
▼ + stars: | 2023-08-15 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer gave investors his top sectors and stocks to watch following Tuesday's weaker-than-expected Chinese economic data. The Dow Jones Industrial Average slid more than 300 points as concerns over China's economy began to mount. The country's July economic data broadly missed expectations, and the National Bureau of Statistics' report did not include youth unemployment numbers. Cramer recommended investors consider infrastructure stocks because the U.S. government is investing heavily in that sector, signaling out equipment manufacturer Caterpillar and steelmaker Nucor . Cramer also recommended drug stocks like Eli Lilly , homebuilding stocks Lennar and DR Horton as well as tech giants like Nvidia .

Persons: CNBC's Jim Cramer, Cramer, Eli Lilly, DR Organizations: Dow Jones, National Bureau of Statistics, Caterpillar, Boeing, Honeywell, DR Horton, Nvidia

☆ China made the deepest cut since 2020 to a key interest rate before posting a disappointing July report card
▼ + stars: | 2023-08-15 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +2 min

The PBOC cut its one-year medium-term lending facility rate by 15 basis points to 2.5%, the biggest reduction since 2020. The People's Bank of China slashed its one-year medium-term lending facility rate by 15 basis points to 2.5%, the deepest cut since 2020. Even more surprisingly, China omitted any mention of youth unemployment statistics in its July report card. Youth unemployment had soared to a record high of 21.3% in the second quarter of 2023. China's statistics bureau spokesperson told Bloomberg that the youth unemployment rate won't be released from August until surveying methods are improved.

Organizations: Bureau, Statistics, Service, People's Bank of China, Bloomberg, Reuters, Exports Locations: Wall, Silicon, China

Total refinery throughput in the world's second-largest oil consumer was 63.13 million metric tons last month, data from the National Bureau of Statistics (NBS) showed. Production was up slightly from the 14.83 million bpd of oil processed in June. Domestic fuel demand has picked up with the arrival of the summer travel season, notably in gasoline and jet fuel. China's crude oil imports in July pared back from close-to-record levels during the previous month, totalling 43.7 million metric tons, or 10.3 million bpd, according to the customs data. The NBS data on Tuesday also showed China's domestic crude oil production in July was 17.31 million metric tons, or 4.1 million bpd, versus 17.13 million metric tons in 2022.

Persons: Dominique Patton, refiners, Production, Andrew Hayley, Jacqueline Wong Organizations: Shandong Haiyou Petrochemical Group, REUTERS, National Bureau of Statistics, Reuters, Zhuochuang, Thomson Locations: Shandong, county, Shandong province, China, BEIJING

☆ The hits keep coming for China's economy — its July report card missed expectations and it altogether omitted youth unemployment stats from the announcement
▼ + stars: | 2023-08-15 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +2 min

Industrial production rose 3.7% on-year in July, badly missing the analysts' target of 4.4%. Interestingly, the July economic report omitted any mention of youth unemployment statistics in the country. Most interestingly, the July economic report omitted any mention of youth unemployment statistics in the country. Youth unemployment soared to a record high of 21.3% in the second quarter of 2023, per the statistic bureau's June report. Instead, the country reported that urban unemployment was 5.3% in July, up from 5.2% in June.

Organizations: Bureau, Statistics, Service, Reuters, Exports, National Bureau of Statistics, CNBC Locations: Wall, Silicon, China

☆ China's economy is stumbling, but it still isn't as dire as Japan's 1990s collapse
▼ + stars: | 2023-08-14 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

China's sputtering growth and property market hurdles have led to comparisons with Japan's troubles in the 1990s. But key differences remain and China's economy isn't yet at the level of Japan's crisis 30 years ago. China's National Bureau of Statistics reported that the consumer price index dropped 0.3% annually in July, tipping the economy into deflation and fueling reminiscences of Japan in the early 1990s. Only this year have Japan's stock markets returned within range of the highs seen in 1990. Real estate prices in Japan fell about two-thirds, and the stock market still has never got back to where it was in 1989.

Persons: David Dollar Organizations: JPMorgan, Service, China's National Bureau of Statistics, Financial Times, Nikkei, Brookings Institute, Brookings Locations: China, Wall, Silicon, Beijing, Japan, 1Q23, Tokyo, United States, Real

☆ China’s economic activity slows further in July as recovery stalls
▼ + stars: | 2023-08-14 | by ( Laura He | ) edition.cnn.com time to read: +1 min

Hong Kong CNN —China has reported a slew of disappointing economic data showing another month of tepid growth in the world’s second largest economy. The NBS said it would no longer release data on youth unemployment, after that figure hit consecutive record highs in previous months. Retail sales expanded 2.5% last month from a year ago, slowing from the 3.1% increase recorded in June. It was up 3.7% in July from a year earlier, compared to growth of 4.4% in June. Fixed-asset investment rose 3.4% in July, compared to the 3.8% growth recorded in June.

Organizations: Hong Kong CNN, Consumer, National Bureau of Statistics, NBS Locations: Hong Kong, China

☆ Fed officials are divided, but holding rates steady in September seems likely
▼ + stars: | 2023-08-13 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Washington, DC CNN —Federal Reserve officials meet next month to determine whether to raise interest rates for the 12th time to cool the economy or hold them steady. Some officials think the Fed has already raised its benchmark lending rate enough to curb inflation, but others think it’s too soon to tap the brakes. Philadelphia Fed President Patrick Harker echoed that sentiment in a speech last week, saying “I believe we may be at the point where we can be patient and hold rates steady.”Other Fed officials agree. “Inflation is still significantly above” the Fed’s 2% target, Fed governor Michelle Bowman said last week at an event in Atlanta. The Federal Reserve releases minutes from its July policymaking meeting as well as July figures on industrial production.

Persons: ” Rajeev Sharma, ”, Jerome Powell, Patrick Harker, “, Raphael Bostic, there’s, Michelle Bowman, ” Carol Schleif, ” Schleif, Katie Lobosco, Brinker Organizations: CNN Business, Bell, DC CNN — Federal Reserve, Key Private Bank, CNN, “, Fed, Financial, Philadelphia Fed, Atlanta Fed, BMO Family Office, Internal Revenue, Tax Administration, IRS, Kansas City Tax Processing, Fresno Tax Processing, China’s National Bureau of Statistics, Depot, US Commerce Department, Target, Federal Reserve, Walmart Locations: Washington, Jackson Hole , Wyoming, Atlanta, Kansas, Fresno

☆ China's economy is showing signs of serious trouble — and the problems are still mounting
▼ + stars: | 2023-08-12 | by ( Phil Rosen | ) www.businessinsider.com time to read: +9 min

Deflation — the trend of prices falling throughout the economy — presents a particularly dangerous trajectory for China, which carries a massive amount of debt. The main components of GDP on the demand side — consumption, investment, net exports — they all have serious problems right now." A shaky property marketMost of China's economic troubles tie directly into its property market. Roughly a quarter of China's population works in agriculture — well above the 3% mark in the US — and that presents its own productivity limitations. From an unstable, debt-ridden property market to anti-business policies and demographic issues, Beijing has plenty to tackle if it hopes to match the same growth as decades past.

Persons: David Dollar, Biden, Dexter Roberts, Roberts, Terry Group, it's, Xi Jinping Organizations: Service, China's National Bureau of Statistics, People's Bank of, Federal Reserve, Brookings, Bloomberg, JPMorgan, Financial Times, China's, Global, US Census Bureau, Atlantic Council, Communist Party, Garden Holdings, Beike Research Institute, Terry Locations: Beijing, Wall, Silicon, China, People's Bank of China, China's US, Western, Russia, Asia, Ukraine, Mexico, China cratered, Rocky

[1/2] A general view of the sun rising behind the White House in Washington, U.S. January 22, 2021. REUTERS/Jonathan Ernst/File PhotoWASHINGTON, Aug 11 (Reuters) - President Joe Biden's comment about China being a "ticking time bomb" referred to internal economic and social tensions that could have an effect on how Beijing interacts with the world, a White House official said Friday. Kirby defended the funding request, saying, "Yes, this is an urgent need for us to be able to provide an alternative." Biden told donors: "China is a ticking time bomb ... China is in trouble. Liu said China's GDP growth continued to provide an important support for the development of the global economy.

Persons: Jonathan Ernst, Joe Biden's, John Kirby, Kirby, Liu Pengyu, Biden, Liu, We've, Xi Jinping, Andrea Shalal, Michael Martina, Chris Reese, David Gregorio Our Organizations: White, REUTERS, Reuters, China's National Bureau, Statistics, Thomson Locations: Washington , U.S, China, Beijing, Utah, Washington, United States, India

☆ Opinion: What nearly every human seems to be missing about shark attacks
▼ + stars: | 2023-08-10 | by ( Opinion Holly Thomas | ) edition.cnn.com time to read: +5 min

For the unlucky few who experience shark attacks, the ordeal is undoubtedly terrifying. Yet every summer, stories about shark attacks top homepages. Unlike shark attacks on humans, which are mainly attributed to curiosity, we know exactly what we’re doing. Throughout, the great white is characterized as a dogged predator obsessed with human flesh. I’d never suggest that the victims of shark attacks had it coming, or that cinemagoers should feel an iota of shame.

Persons: Holly Thomas, Katie Couric, Holly Thomas Holly Thomas, Kyle Van Houtan, Peter Benchley, Steven Spielberg’s, Brody’s, Jonas Taylor, Jason Statham, Taylor, I’d Organizations: Katie Couric Media, CNN, New Yorker, Florida Museum, Natural, Monterey Bay Aquarium, Oceanographic Magazine, Twitter, Facebook Locations: London, New York City, New, finning, Monterey, Amity Island’s

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 7, 2023. The consumer price index (CPI) dropped in the world's second-largest economy, the National Bureau of Statistics said, its first decline since February 2021. Of the 443 S&P 500 companies that have reported results as of Tuesday, 78.6% beat analyst expectations, according to Refinitiv data. Declining issues outnumbered advancing ones on the NYSE by a 1.18-to-1 ratio; on Nasdaq, a 1.63-to-1 ratio favored decliners. The S&P 500 posted 16 new 52-week highs and 7 new lows; the Nasdaq Composite recorded 60 new highs and 178 new lows.

Persons: Brendan McDermid, Jason Krupa, Patrick Harker, Gina Bolvin, Wells, Penn Entertainment's, Walt Disney's, Uber, Krupa, Echo Wang, Bansari Mayur Kamdar, Johann M, Shounak Dasgupta, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Penn Entertainment, Dow, Nasdaq, Consumer, Index, Lenox Advisors, New York Federal Reserve Bank, Philadelphia Fed, Bolvin Wealth Management Group, Traders, FedWatch, Wall, Nvidia, Apple, National Bureau of Statistics, Dow Jones, Bank of America, Casino, Walt, Walt Disney's ESPN, NYSE, Thomson Locations: New York City, U.S, Boston, New York, Bengaluru

The Consumer Price Index (CPI) for July, due on Thursday, is expected to show a slight acceleration from last year. The consumer price index (CPI) dropped in the world's second-largest economy, the National Bureau of Statistics said on Wednesday, its first decline since February 2021. According to preliminary data, the S&P 500 (.SPX) lost 31.47 points, or 0.70%, to end at 4,467.91 points, while the Nasdaq Composite (.IXIC) lost 162.31 points, or 1.17%, to 13,723.96. Six of the top 11 S&P 500 sectors rose, with energy stocks (.SPNY) leading the gain. Of the 443 S&P 500 companies that have reported results as of Tuesday, 78.6% beat analyst expectations, according to Refinitiv data.

Persons: Brendan McDermid, Jason Krupa, Patrick Harker, Gina Bolvin, Michelle Bowman, Wells, Penn Entertainment's, Walt Disney's, Uber, Krupa, Echo Wang, Bansari Mayur Kamdar, Johann M, Shounak Dasgupta, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Penn Entertainment, Dow, Nasdaq, Lenox Advisors, New York Federal Reserve Bank, Philadelphia Fed, Bolvin Wealth Management Group, Traders, FedWatch, Wall, Nvidia, Apple, Index, Bank of America, National Bureau of Statistics, Dow Jones, Casino, Walt, Walt Disney's ESPN, Thomson Locations: New York City, U.S, Boston, New York, Bengaluru

☆ China swings into deflation as recovery falters
▼ + stars: | 2023-08-09 | by ( Reuters Staff | ) www.reuters.com time to read: +4 min

BEIJING (Reuters) -China’s consumer prices fell into deflation in July, while factory gate prices extended their declines, as the world’s second-largest economy struggled to revive demand and pressure mounted for authorities to release more direct stimulus. FILE PHOTO: Staff sort fruits at a Walmart in Beijing, China, September 23, 2019. China’s economic recovery slowed after a brisk start in the first quarter, as demand at home and abroad weakened. “Both CPI and PPI in year-on-year terms fell into negative territory and confirmed economic deflation,” said Xing Zhaopeng, senior China strategist at ANZ. Otherwise, economic data showing some growth improvement is required, which is not coming through yet.”JAPAN-STYLE DEFLATION?

Persons: Tingshu Wang, “, ”, Xing Zhaopeng, Xing, Frances Cheung, Japan’s “, Liu Guoqiang Organizations: Walmart, REUTERS, National Bureau of Statistics, Authorities, CPI, PPI, ANZ, “, OCBC Bank, NBS, Investors Locations: BEIJING, Beijing, China, Shanghai, Singapore, JAPAN, Brazil

☆ China tips into deflation as efforts to stoke recovery falter
▼ + stars: | 2023-08-09 | by ( Liangping Gao | Ryan Woo | ) www.reuters.com time to read: +4 min

Customers select tomatoes at a stall inside a morning market in Beijing, China August 9, 2023. The consumer price index (CPI) dropped 0.3% year-on-year in July, the National Bureau of Statistics (NBS) said on Wednesday, compared with the median estimate for a 0.4% decrease in a Reuters poll. The producer price index (PPI) declined for a 10th consecutive month, down 4.4% and faster than the forecast 4.1% fall. Asian shares were on the defensive on Wednesday as the Chinese price data confirmed its economic recovery was losing steam. Beijing has set a consumer inflation target of around 3% this year, which would be up from 2% recorded in 2022, and for now, authorities are downplaying concerns about deflation.

Persons: Wang, Japan’s “, ”, Gary Ng, Liu Guoqiang, Xia Chun, Tommy Wu, Wu Organizations: REUTERS, National Bureau of Statistics, “, Asia Pacific, Natixis, Commerzbank Locations: BEIJING, Beijing, China, Asia, Brazil, Japan, Hong Kong

☆ China slips into deflation, fueling more calls for economic stimulus
▼ + stars: | 2023-08-09 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Shop and factory prices both fell in China last month, according to data released Wednesday. That means the country is suffering deflation for the first time in over two years. It's the latest in a long list of concerns for Beijing as China's post-COVID rebound fizzles out. That's another economic worry for Beijing, which is also contending with faltering growth, skyrocketing youth unemployment, and massive amounts of debt. The data released Wednesday is likely to lead to more calls for fiscal stimulus, according to analysts.

Persons: Hargreaves, Steve Clayton, Jim Reid Organizations: Service, Privacy, China, National Bureau of Statistics, CPI, PPI, Deutsche Bank Locations: China, Beijing, Wall, Silicon

☆ It's about to get harder for US firms to invest in Chinese markets
▼ + stars: | 2023-08-09 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

President Biden will announce an executive order that bans investments in some Chinese tech companies in 2024. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. The Wednesday development marks the latest step by the White House to limit investors' involvement and access to Chinese markets. In July, the Wall Street Journal reported that the US could soon curb cloud providers from selling services to China. It's another sign that illustrates how the Chinese economy has stumbled out of the pandemic rather than rebounding.

Persons: Biden, Joe Biden, Janet Yellen Organizations: Service, New York Times, White, Wall Street Journal, Bloomberg, China's National Bureau, Statistics Locations: Beijing, China, Wall, Silicon

☆ China slips into deflation as CPI falls for the first time in more than two years
▼ + stars: | 2023-08-09 | by ( Laura He | ) edition.cnn.com time to read: +1 min

Hong Kong CNN —The Chinese economy has slipped into deflation, with consumer prices falling for the first time in more than two years in another sign of weakening demand. The consumer price index (CPI) fell by 0.3% in July from a year ago, according to China’s National Bureau of Statistics on Wednesday. The producer price index (PPI), which measures goods prices at the factory gate, also dropped by 4.4% in July from a year earlier. Signs of deflation have become more prevalent in the world’s second biggest economy in recent months, sparking concerns that China could enter a prolonged period of stagnation. China is also suffering from a prolonged slump in its real estate sector, and weak trade.

Persons: That’s Organizations: Hong Kong CNN, National Bureau, Statistics Locations: Hong Kong, China

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