China’s economy gained momentum in the last quarter, expanding by 3.9 per cent through July-Sept. The figure represented a positive beat on analyst forecasts, but it was still well adrift of the target rate. Growth remains constrained by periodic regional shutdowns and a stringent testing regime still in place to restrict the spread of Covid-19.
China’s President, Xi Jinping, fresh from his reappointment as leader of the ruling Communist Party, has given no indication that the nation will alter its approach to dealing with Covid-19. The continuation of the “zero-Covid” strategy isn’t playing well with domestic markets, as evidenced by a multi-year low in the Hang Seng China Enterprises index.
Asia Pacific analysts will have been frustrated by scant mention of the country’s ongoing property crisis at the Communist party’s 20th congress, but Chinese authorities are hardly synonymous with transparency and openness. Despite the lingering uncertainties, most Asian indices were in positive territory.
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