China economy slows; officials say recovery ‘unstable and uneven’
Al Jazeera, 18 Oct 2021
China’s economy has grown at a slower rate than expected in the third quarter.
According to official figures the world’s second largest economy expanded by 4.9 percent - down 3 percent from the previous quarter.
Nationwide power outages and supply bottlenecks hurt factories while sporadic COVID-19 outbreaks have hampered consumer demand.
The country’s largest real estate developer Evergrande is struggling to pay back $300bn worth of debt, fuelling fears among housing investors.
Al Jazeera's Katrina Yu reports from Beijing, China.
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#China #ChinaEconomy #ChinaGDP
According to official figures the world’s second largest economy expanded by 4.9 percent - down 3 percent from the previous quarter.
Nationwide power outages and supply bottlenecks hurt factories while sporadic COVID-19 outbreaks have hampered consumer demand.
The country’s largest real estate developer Evergrande is struggling to pay back $300bn worth of debt, fuelling fears among housing investors.
Al Jazeera's Katrina Yu reports from Beijing, China.
- Follow us on Twitter: https://twitter.com/AJEnglish/
- Find us on Facebook: https://www.facebook.com/aljazeera/
- Check our website: https://www.aljazeera.com/
#China #ChinaEconomy #ChinaGDP
