Free Trial

China Must Invest in Services as Property-led Growth Ends: Herald

CHINA PRESS
MNI (Singapore)

China must find ways to attract investment into consumer services to sustain its growth, as the property-finance-local government investment triangular model has come to an end, the 21st Century Business Herald said in an editorial citing comments by Yang Weimin, a high-ranked advisor and the deputy director of the economy of the Chinese People's Political Consultative Committee. Weak Q3 growth was partly due to the falling investment in properties, Yang was cited as saying. Housing prices have entered a slow-growth era as population slows, while the high home prices in some cities are unaffordable to middle-income earners, Yang was cited as saying. China should focus more on employment even as large-scale investments may be the preferred policy choice for short-term effect, said the newspaper.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.