Obtain free Chinese language financial system updates

We’ll ship you a myFT Each day Digest electronic mail rounding up the newest Chinese language financial system information each morning.

China’s financial system misplaced momentum within the second quarter, with gross home product increasing 0.8 per cent towards the earlier three months as falling exports, weak retail gross sales and a moribund property sector weighed on progress.

The difficulties going through the world’s second-largest financial system will put additional stress on international progress and add to requires Beijing to step up stimulus measures greater than six months after China deserted powerful Covid-19 controls.

The second-quarter progress price was stronger than 0.5 per cent forecast by a Reuters analyst ballot however weaker than a 2.2 per cent quarter-on-quarter growth within the January-March interval.

On a year-on-year foundation, the financial system grew 6.3 per cent within the second quarter due to a low-base impact final yr, when giant cities together with Shanghai had been locked down for an prolonged interval. The Reuters ballot had predicted a 7.3 per cent progress price.

Youth unemployment for these aged 16 to 24 hit a brand new excessive of 21.3 per cent within the second quarter.