Beijing's top decision-making body the Politburo said late Monday that it would launch its stimulus package"with precision and force" to boost demand, according to"China's economy is facing new difficulties and challenges, which mainly arise from insufficient domestic demand, difficulties in the operation of some enterprises, risks and hidden dangers in key areas, as well as a grim and complex external environment," the state news agency also quoted the Politburo as...
Data released last week showed that China's GDP growth fell short of forecasters' predictions and the rate of unemployment among 16- to 24-year-olds surged to 21% in the second quarter of 2023. The country's economy has also been plagued by a property-market crisis ever since embattled developerThe Politburo had been expected to conclude its July meeting later this week, so Monday's hints of a stimulus package surprised markets.
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