Chinese economy softens on property downturn despite stimulus measures

China’s economy showed further signs of softening in July despite a burst of government stimulus measures, suggesting more policy support may be needed to keep growth on track as a property downturn worsens.

Chinese economy softens on property downturn despite stimulus measures

Unexpectedly weak growth in investment, retail sales and bank lending in July all pointed to growing vulnerabilities in the world’s second-largest economy.

The biggest surprise from yesterday’s data deluge came from credit and financing figures that showed the amount of cash flowing into the world’s second-largest economy tumbled to a near six-year low in July of 273.1bn yuan — about one seventh of that in June.

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