MNI BRIEF: Beijing Retail Sales Growth Decline Narrows In Oct
MNI (BEIJING) - Beijing municipality’s total retail sales growth between January to October decreased by 1.3% y/y, narrowing from the 1.6% decline between January to September, data from the Beijing municipal government showed on Monday.
Investment in real-estate development decreased by 7.1% y/y during the first ten months, accelerating from the 4.5% fall during the first nine months, the data showed.
From January to October, the city's fixed-asset investment increased by 7.3% y/y down from 7.8% during the first three quarters, while the added value of industrial enterprises increased by 6.5% y/y, slower than the 6.9% previously.
Beijing will intensify efforts to stimulate domestic demand should U.S. President-elect Donald Trump impose higher tariffs after taking office, while accelerating free-trade negotiations with other partners particularly among the BRICS, policy advisors told MNI. (See MNI: China Domestic Stimulus Needed To Counter Trump-Advisors)