China’s third-quarter GDP growth was disappointing, slowing to 4.9%.

China’s third-quarter GDP grew disappointing at 4.9%, industrial activity in September rose less than expected. The business sector does not want to invest more.

China National Bureau of Statistics (NBS) reported that gross domestic product (GDP) It grew 4.9 percent in the third quarter compared to the same period in 2020, straying from a Reuters poll of 5.2 percent. Industrial production in September rose 3.1 percent, below the 4.5 percent mark. predicted

NBS spokesman Fu Linghui said that in the third quarter, both domestic and international risks and challenges increased.power shortage “Some impact” on normal production but the effect onchinese economythat can be controlled

At the end of September, many factories had to stop production due tocoal priceandshortage of electricitycausing the local authorities to cut off the power suddenly Since then, the Beijing government has reiterated that it will increase its coal supply. and ensuring that electricity is available

NBS also reported that investing infixed assetsThe first three months of this year were more sluggish than expected, up 7.3% from the same period in 2020, compared with the 7.9% forecast.

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Mr. Zhu Chaoping, Global Market Strategist JPMorgan Management It said investment activity fell as a result of the curtailment of lending conditions. He assessed that Fixed asset investment in September fell 2.5% from the same period last year. Preliminary results were attributed to a 3.5% drop in real estate investment.

According to Moody’s assessment real estate sectorand other industries related accounted for a quarter ofChinese GDP In the past 18 months, the Beijing government has stepped up efforts to reduce debt by real estate developers.EvergrandeThat became big news in August when the company said that may default on interest payments on foreign dollar denominated debentures, whichcentral bank of chinaAnnounced on Friday (Oct 15) that Evergrande’s case is not like others. While the operation of the real estate company Others have good stability.