China’s property slump worsens as growth slows sharply
Al Jazeera · Just In
Al Jazeera
Just In
China’s economy slowed more than expected in August, with weak data and stalled property projects fuelling calls for stronger government stimulus.
Breakdown
- China's property downturn has persisted for four years, with unfinished buildings and declining home sales. 13s
- Weaker retail sales and a rise in unemployment to 5.3 percent have accompanied the property slump. 36s
- Chinese exports remain resilient, but overall economic growth is uneven and fragile. 42s
- Authorities are cracking down on aggressive price competition, especially in the electric vehicle sector. 1m 14s
- The government aims to boost confidence and meet a 5% GDP target for 2025 despite ongoing challenges. 1m 47s