China’s final data dump for the year contained one optimistic note amid a set of economic numbers that showed the spate of actions its government and central bank have taken to boost activity this year is yet to gain traction.
That explains why its policymakers are considering a shift in economic strategy that had, until now, been considered unpalatable to Xi Jinping.
President Xi Jinping is considering a range of measures to get China’s economy going. Credit: Bloomberg
The mildly positive element of Monday’s release of economic data was that property prices in the major cities, while still sliding, are stabilising. New home prices fell 0.2 per cent in November, relative to October, while established home prices fell 0.35 per cent. Those are the smallest declines in about 18 months.
The three-year collapse of the property development sector, …