Caixin
Aug 10, 2022 06:32 PM
OPINION

Opinion: The Two Weaknesses of China’s Economy

An incomplete real estate project in Jiaozuo, Henan province on July 18. Photo: VCG
An incomplete real estate project in Jiaozuo, Henan province on July 18. Photo: VCG

Although China’s economic data for June suggest economic activity was starting to recover from the previous two months, when the country was hit hard by Covid-19 flare-ups, the recovery was imbalanced. Consumer spending and the real estate industry remain the two biggest challenges facing China’s economy, so it won’t be easy to hit the government’s GDP growth target of around 5.5% for 2022.

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