China's Factory Activity Shrinks for 8th Month, Economic Growth Target Set
Update: 2025-11-30
Description
Chinas manufacturing sector continues to contract, marking the eighth consecutive month of decline, despite the recent US-China trade agreement. The official manufacturing index rose slightly to 49.2 in November, indicating a marginal expansion, but still below the crucial 50-point threshold. The prolonged property market downturn, falling home prices, and intense price competition in industries like automobiles are dampening consumer confidence and hurting businesses. Economists call for more government support, but policymakers seem hesitant, as incentives like trade-in subsidies for home appliances and electric vehicles are being phased out. China aims for a five percent economic growth rate in 2025, but the economy grew by only four point eight percent in the third quarter of 2022.
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