Скачать или смотреть Provinces Race Against Time to Hit Economic Growth Goals；China’s Manufacturing Sector Shows Signs of

Welcome to our 《Chinese Finance and Economy Briefing》 program! As the year draws to a close, China's provinces are ramping up efforts to meet their economic growth targets. With a national growth rate of 4.8% in the first three quarters, local governments are adopting a "no excuses" mindset to stimulate investment, consumption, and foreign trade. However, challenges like a sluggish property market and local government debt loom large, prompting the need for innovative strategies beyond traditional stimulus measures.

In other news, the manufacturing sector in China is showing signs of recovery, with the official purchasing managers' index (PMI) rising to 50.1 in October, marking an end to five months of contraction. This positive development suggests that Beijing's stimulus efforts are beginning to take effect. However, experts caution that it's still too early to declare a sustainable recovery, highlighting the importance of fiscal policy for long-term stability.

Lastly, the shift towards a consumption-driven economy faces hurdles as President Xi Jinping's austerity measures dampen consumer confidence. With the government's focus still leaning towards investment rather than direct consumer spending, the challenge remains to harmonize central planning with a vibrant consumer economy. Please stay tuned for more detailed coverage!

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