Asian Traders Give Mixed Reaction As China's Economic Growth Slows
Asian markets were mixed Friday as data showing China's economy grew slightly quicker than expected last year failed to inspire investors, with Beijing battling to revive consumption and boost the battered property sector.
The five percent expansion was in line with the target set by Beijing but the weakest since 1990 -- excluding the pandemic years -- as leaders fought to address weak consumption and a painful debt crisis in the vast property sector.
A survey of 12 economists by AFP forecast growth of 4.9 percent.
A surge in the final quarter, helped by a string of stimulus measures, and a boost in retail sales were also unable to inject much optimism onto trading floors, which were already cautious as dealers prepare for Donald Trump's second term amid fears of another China-US trade war.
The 2024 growth figure came in the face of a "complicated and severe environment with increasing external pressures and internal difficulties", the National Bureau of Statistics said.
Beijing has introduced a series of measures in recent months to bolster the economy, including key interest rate cuts, easing local government debt and expanding subsidy programs for household goods.
However, analysts surveyed by AFP warned it could fall to........
© International Business Times
