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  • China's gross domestic product rose 4.9% year on year last quarter, slightly missing expectations.

  • But still music to the years of policy makers were worried about unemployment and souring loans.

  • Besides GDP, industrial output and retail sales, which is being a soft patch, albeit expectations.

  • With people going back to movies and domestic travel, reviving the recovery seems to be increasingly broad based.

  • The People's Bank of China has already hinted in my start normalizing policies on a brighter economic outlook after all, for them there is the stimulus over 100 worried about which is selectively boost equities and supported property speculation.

  • But the economic rebound has not been distributed evenly.

  • While bank loans hit a record $2.4 trillion in the first nine months, the demand is drying up in the hinterland.

  • For example, in the northeastern Rust Belt province of learning, total credit growth has been negative in the first half, according to analysis by the RHODIUM Group, while several other provinces are struggling to pay off interest payments on their outstanding debt.

  • Infrastructure investment, which poor provinces have heavily relied on to drive growth, has shown signs of fatigue and their physical condition has worsened.

  • Private fixed asset investment in the first nine months remained negative.

  • Withdrawing stimulus early could worsen imbalances aggravated by the pandemic.

China's gross domestic product rose 4.9% year on year last quarter, slightly missing expectations.

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    林宜悉 posted on 2020/10/25
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