China’s growth slows to 4.6%, falling short of official targets

Quick Summary:

HONG KONG—China’s economy expanded at an annual rate of 4.6 percent in the July-September quarter, the government said Friday, in the latest evidence that recent efforts to rev up growth have yet to take hold.

Chinese policymakers have in recent weeks announced a wave of measures aimed at boosting the economy, including reducing mortgage rates for existing homes and allowing banks to lend more by reducing reserve requirements.

On Friday, China’s large state-run banks cut their deposit rates, to 0.1 percent from 0.15 percent for demand deposits and to 1.1 percent from 1.35 percent for longer-term deposits.

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Article Details

Author / Journalist: Zen Soo / AP Technology Writer

Category: BusinessStartups

Markets: PhilippinesChinaHong KongVietnam

Topics: Economy Percent Rate Year Expanded Quarter Growth Measures Sales China’s Annual

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-18 @ 15:01:36 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 704 words

Reading Time: 4 minutes read

Sentences: 25 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 23120415

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