New data intensified economists’ — and even authorities’ — concerns over China’s prospects. Consumption, industrial production, and investment figures all fell short of analysts’ expectations, while one of the country’s biggest property developers sought again today to win investor backing to restructure its bond payments in order to avoid default.
The world’s second-biggest economy faces challenges ranging from the threat of chronic deflation, a flailing real estate sector, and languid growth overall, with Communist Party officials acknowledging at a major economic policy gathering last week that they would seek to increase investment spending next year. “Beijing wants to stabilize the economy… by providing support, not stimulus,” analysts at the research firm Trivium wrote.