Has China’s economic slowdown become the new normal? Xi Jinping’s “new narrative” about the Chinese economy

Official data released earlier showed that China’s October economic indicators—from exports and domestic consumption to fixed-asset investment and the property market—all performed far below expectations. The country’s “three growth drivers” have effectively stalled. Given China’s strained relations with the US and Europe, the sharp deterioration in exports was inevitable. And with the property market’s deep-seated problems still unresolved, a steep decline in fourth-quarter GDP growth to just 4.7 per cent appears entirely plausible.

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Andrew Wong

Returned to Hong Kong from Canada in 2001, with 23 years in finance — once founded and fully owned a boutique investment bank. In 2024, finally passed his own “Article 23,” stepping into semi-retirement!