China November data to show economy facing pressure from debt, pollution crackdowns
A raft of Chinese data in coming weeks is expected to show the world’s second-largest economy came under growing pressure as the government intensified crackdowns on polluting industries and financial risks. Beijing has pledged to switch course from a prolonged, debt-fuelled investment binge to higher quality and more balanced growth. Besides ramped-up efforts to shut down factories in some provinces to reduce winter smog, authorities unveiled fresh regulatory measures last month for the financial sector, clamping down on high-risk lending and halting some dubious infrastructure projects that would swell local governments’ debt. Economists believe such measures will lead to a slight moderation in China’s growth in the fourth quarter to around 6.7 percent, after a forecast-beating 6.9 percent in the first nine months of the year.
Source : Reuters
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