Investment in the manufacturing and infrastructure sectors is expected to play a key role in stabilizing China’s economic growth in the coming months amid intensified policy support after retail sales and property development showed signs of softening, officials and experts said on Wednesday.
They commented after China’s economic recovery slowed in August due to domestic COVID-19 cases and heavy rains in some parts of the country, with headline data including industrial output, retail sales, and fixed-asset investment decelerating from July and falling short of market expectations.
Although the economy showed more signs of softening in August, the nation is expected to continue to implement property sector regulations aimed at stabilizing housing prices and developers’ debt ratio, said Lu Ting, Nomura’s chief China economist.
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