China's economy weakening, as Beijing steps up support: surveys
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China's economy shows signs of weakening with a fifth consecutive month of contraction as per the National Bureau of Statistics survey; Caixin purchasing managers survey indicates new manufacturing orders fell at the fastest pace in two years in September; Purchasing managers index at 49.8 in September, up from 49.1 in August; Chinese stock markets surged with Shenzhen index up 8.2% and Shanghai Composite up 5.7% following new policy measures; Central bank to cut mortgage rates by Oct. 31; Guangzhou lifted home purchase restrictions; Property sector struggles due to past government crackdowns; Economy expanded at 4.7% in last quarter, slightly below the 5% target.
#China #Economy #Manufacturing #Stimulus #Property #Surveys #StockMarket #NationalBureauOfStatistics #Caixin #PolicyMeasures
https://www.investmentexecutive.com/news/research-and-markets/chinas-economy-weakening-as-beijing-steps-up-support-surveys/
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