Beijing has recently expanded support for home buyers, unveiled measures to steer cheaper credit into sectors including infrastructure and technology and allocated 550 billion yuan (US$82.28 billion) in unused government debt quotas to ease local governments’ financial strain and expand infrastructure investment.
Authorities also stepped up fiscal support, including expanding loan interest subsidies for small private firms and consumers and tapping an 800 billion yuan policy-based financing tool to spur infrastructure investment.
Still, infrastructure investment shrank 4.2 per cent.
Fixed-asset investment declined 7.2 per cent in the first nine months, dropping at the same pace as in January-to-August period.
Retail sales grew 1.1 per cent in September, improving from the 0.4 per cent rise in August and compared with an expected 0.6 per cent rise. It marked the quickest growth since March.
Property investment fell 20.6 per cent in the first nine months in September.
Policymakers refrained from releasing large-scale stimulus, as strong goods exports, aided by a global AI-fuelled tech boom, should help the country to reach its annual growth target.
Industrial output expanded 5.5 per cent in September, accelerating from the 5.2 per cent growth in August and was in line with expectations. It marked the quickest growth in six months.
