China’s economy is still facing a bumpy recovery with various uncertainties, including a sluggish property market, fiscal pressures on local governments, a bleak export outlook and low confidence in the private sector.
S&P Global Ratings predicted in its economic outlook on Sunday that China’s economy would grow by 5.4 per cent in 2023, year on year, but could slow to 4.6 per cent growth next year.
“China’s outlook has improved, but obstacles remain,” analysts at S&P Global said.
“A property downturn is still a pain point for the Chinese economy, but growth momentum has slightly improved because of policy support.”
Dozens of homebuyers in Tongchuan, a city in northwestern China’s Shaanxi province, are demanding police action as the presale flats they bought years ago remain unfinished shells. The so-called “rotting” or unfinished homes in China have become more common since a property slump in 2021, which has seen some property developers go bankrupt, and others left in massive debt. 中国西北部陕西省铜川市的数十名购房者要求警方采取行动,因为他们多年前购买的预售公寓仍是未完工的空壳。 自2021年房地产市场低迷以来,中国所谓的“烂尾”或未完工的房屋变得更加普遍,一些房地产开发商破产,另一些开发商背负巨额债务。
The cars were likely deserted after the ride-hailing companies that owned them failed, or because they were about to become obsolete as automakers rolled out EV after EV with better features and longer driving ranges. They’re a striking representation of the excess and waste that can happen when capital floods into a burgeoning industry, and perhaps also an odd monument to the seismic progress in electric transportation over the last few years. 这些汽车很可能在拥有它们的乘用车公司倒闭后被遗弃,或者因为随着汽车制造商推出性能更好、行驶距离更长的电动汽车,它们即将过时。 当资本涌入蓬勃发展的产业时,它们可能产生的过剩和浪费,也许也是过去几年电力运输领域的地震性进展的一个奇怪的纪念碑。