{"id":2428,"date":"2024-10-03T03:36:00","date_gmt":"2024-10-02T19:36:00","guid":{"rendered":"https:\/\/www.kafeizha.com\/?p=2428"},"modified":"2024-10-03T03:36:00","modified_gmt":"2024-10-02T19:36:00","slug":"%e4%b8%ad%e5%9b%bd%e5%88%b6%e9%80%a0%e4%b8%9a%e7%96%b2%e8%bd%af%e5%87%b8%e6%98%be%e5%88%ba%e6%bf%80%e6%94%bf%e7%ad%96%e6%80%a5%e8%bf%ab%e6%80%a7","status":"publish","type":"post","link":"https:\/\/news.tomjun.com\/?p=2428","title":{"rendered":"\u4e2d\u56fd\u5236\u9020\u4e1a\u75b2\u8f6f\u51f8\u663e\u523a\u6fc0\u653f\u7b56\u6025\u8feb\u6027"},"content":{"rendered":"

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\u65b0\u95fb\u6765\u6e90\uff1a<\/b>www.bloomberg.com
\u539f\u6587\u5730\u5740\uff1a<\/b>China\u2019s Weak Factory Activity Shows Urgency of Stimulus Push<\/a>
\u65b0\u95fb\u65e5\u671f\uff1a<\/b>2024-09-30
\u539f\u6587\u6458\u8981\uff1a<\/b><\/font><\/p>\n

China\u2019s factory activity continued to contract while the services sector slowed in September, as policymakers prepared an emergency to revive an economy facing challenges across the board.The official  was 49.8, meaning the sector has now been in contraction since April 2023, bar three months. The  fell to the lowest in 21 months, showing construction and services activity lost momentum and moved to the verge of shrinking.The data, released by the National Bureau of Statistics on Monday, shows the economy remained in a slump before Chinese officials announced a broad package of measures aimed at reviving growth. The central bank last week  and freed up cash for banks to boost lending, while the elite Politburo  to support fiscal spending and stabilize the beleaguered property sector.Traders shrugged off the latest dismal data readings, as Beijing\u2019s multi-pronged plan to lift sentiment in the world\u2019s No. 2 economy continued to fuel a rally in stocks. The benchmark  Index jumped 8.5% Monday, the most since 2008, while a Bloomberg Intelligence gauge of Chinese property developers rose as much as 15.7%.The country\u2019s 10-year sovereign bonds fell, extending their biggest weekly drop in a decade, as investors pivoted toward risk assets on expectations the stimulus efforts will aid growth.\u201cI don\u2019t think September macro data points are going to matter this time for markets,\u201d said , director of investment at abrdn Asia Ltd. \u201cIt\u2019s all forward looking about what kind of fiscal stimulus comes out.\u201dThe spotlight is now on what measures the Ministry of Finance might unleash, as officials from other arms of China\u2019s economic universe implement measures to boost the property market and rate cuts. The 24-man Politburo led by President  vowed at a meeting last week to boost fiscal spending, although it offered no specifics. Reuters reported the Ministry of Finance is planning to issue 2 trillion yuan ($285 billion) worth of special sovereign bonds this year, with half devoted to boosting consumption.If Beijing needed more reason to  under its post-pandemic slowdown, the Caixin PMI survey in September showed the country\u2019s  unexpectedly fell into contraction while  expansion weakened to the slowest in a year. That private gauge has typically painted a rosier picture of the economy.\u201cThe PMIs suggest that the economy is still weak but there will be more focus on the impact of the strong stimulus measures announced over the past week,\u201d said , economist at the United Overseas Bank. \u201cThe monetary and fiscal policy mix should prevent the economy from further weakening in the near-term.\u201dThe latest data offered a final snapshot of the economy before the nation of 1.4 billion people enters a weeklong National Day holiday. Spending over this period starting Tuesday will offer an early glimpse of the effects of Beijing\u2019s efforts to boost , which clocked its weakest reading last month since November 2022.\u201cThe lack of effective domestic demand is a serious problem, and the pressure on employment and weak expectations have constrained consumers\u2019 ability and willingness to spend,\u201d said Wang Zhe, senior economist of Caixin Intelligence Group.The official services sector PMI shows activity contracted for the first time this year, with transportation, culture, sports and entertainment shrinking due to the end of the summer travel season and extreme weather in parts of China, according to the NBS.While the Ministry of Finance has yet to make an official announcement, other monetary and economic authorities have begun to flesh out their part of the stimulus package over the last few days. The People\u2019s Bank of China on Sunday said homeowners will be able to renegotiate terms with their current lenders, a move that would reduce their mortgage burdens and potentially boost household spending, starting Nov .1.The National Development and Reform Commission, China\u2019s economic planning agency, on Friday pledged full support to help private companies overcome difficulties during a meeting with executives from firms such as  and .And at a State Council meeting on Sunday, Premier  said government agencies will accelerate the pace of implementing policies as they strive to meet annual goals, state broadcaster CCTV reported. Beijing\u2019s ability to reach its target of around 5% GDP growth was increasingly in doubt after data showed activity  in August.\u201cThe State Council responds to the Politburo, which demands increased government investment,\u201d said , chief economist for greater China at Australia & New Zealand Banking Group, who expects the Chinese economy to grow 4.9% this year. \u201cThe keyword here is \u2018execution.\u2019\u201d<\/pre>\n
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