Posted 2/1/2024, 9:46:00 AM
China's Economic Woes Continue Despite Stimulus Efforts
- China is struggling to stage an economic recovery despite authorities pulling a dozen stimulus measures in January
- The lack of market confidence is evident with China's stock markets selling off massively in early 2023
- China's economic data remains weak, with manufacturing activity contracting again in January and property demand still depressed
- Authorities are taking more forceful measures to try to boost market confidence, including instructing state-backed funds to buy stocks
- Overall, investors remain cautious as the Hang Seng index and CSI 300 are still down in 2023, while consumers are already over-leveraged