Caixin: China’s 3 major economic engines are moving in different directions
|Caixin published their report on the latest Chinese economic data, highlighting that the country's three major economic engines are moving in different directions.
Key Points:
China's third-quarter economic growth stabilized, in line with estimates
Exports and investments showed signs of weakness in recent months
While consumption has contributed more to the growth, said Lian Ping, chief economist at the Bank of Communications.
Export growth slid 10% in September from a year earlier, the biggest drop since February, due to sluggish demand both at home and abroad, even though the yuan depreciated
Growth in fixed-asset investment fell to a 16-year low in the first nine months of the year, at 8.2%.
Investment from the private sector, which accounted for more than 60% of fix-asset investment, slowed to its worst pace, at 2.5%, since the NBS started to release data in 2012, as private investors appeared to lose faith in the economy.
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