China's growth slowdown suggests recovery is losing steam

China's growth slowdown suggests recovery is losing steam

Oct 18, 2021 by BBC News - Business

Key Facts

  • PROPERTY SECTOR CRISIS This has come at the same time as China's property sector has faced increasing pressure to rein in its debt.
  • Evergrande's "financial liabilities make up less than one-third of its total liabilities, and the creditors are diverse," said Zou Lan, a director at the People's Bank of China.
  • Woei Chen Ho, an economist at United Overseas Bank in Singapore, says the energy crunch and crackdown on the property sector means the bank is likely to downgrade its growth forecast for China for the year.
  • From big tech to gaming to the education sector, a number of China's biggest companies are facing policy curbs aimed at social transformation.

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