China's fiscal revenue increased by 11.5% in the first seven months of 2023, but the growth rate was slower than the previous six months, indicating a potential decline in the economy's momentum.
China's previous economic model of investing in infrastructure and manufacturing led to a period of rapid growth and global export success.
Hong Kong's stock market has benefited from China's rapid growth, with over 1,400 Chinese companies raising $1.05 trillion in the past 30 years.
Thailand's tourism and exports, particularly in the chemical and plastic sectors, are expected to decline due to the economic slowdown in China caused by the real estate crisis, leading to a significant decrease in the number of Chinese tourists visiting Thailand and affecting the country's overall economy.
China's economic slowdown is causing alarm across the world, as it is expected to have a negative impact on global economic growth, leading to reduced imports and trade, falling commodity prices, a deflationary effect on global goods prices, and a decline in tourism and luxury spending.
China's commodities sector, including coal mining and metals production, is experiencing declining profits due to the worsening property crisis and economic slowdown, with steel producers being the hardest hit. However, there is potential for growth in metals firms linked to the energy transition, particularly in China's green copper consumption driven by electric vehicles and renewable power.
China's economy is not as bad as perceived, with consumer spending picking up and indicating that growth is moving in the right direction, according to an official at the British Chamber of Commerce in China.
China's economic growth is slowing down due to a property market downturn, softening demand for exports, and low household spending, which is causing concerns about a possible economic crunch point. Policymakers need to increase household consumption and implement structural reforms to stimulate growth.
China's economic growth has slowed but has not collapsed, and while there are concerns about financial risks and a potential property crisis, there are also bright spots such as the growth of the new energy and technology sectors that could boost the economy.
Policymakers expect slower growth in China, potentially below 4%, as the country transitions to a consumption-driven economy, which could have a negative impact on the global economy and alleviate inflationary pressures.
China's passenger vehicle sales experienced growth in August, driven by discounts and tax breaks on environmentally friendly and electric cars, despite a weak economy, and Tesla's share of the Chinese electric vehicle market nearly doubled.
China's economy is expected to grow less than previously anticipated due to struggles in the property market, leading economists to predict further downgrades and posing risks to both the domestic and global economy.
China's largest online travel agency, Trip.com, expects to achieve annual growth of 15-20% in the next three to five years, despite concerns of a stalled national economy, as the demand for leisure travel remains strong among local tourists and pent-up travel demand is not expected to be short-lived.
The struggling real estate sector in China, due to a current crisis and government regulations, is impacting consumer spending and causing Chinese tourists to be slow in returning to international travel. As Chinese homeowners prioritize savings and cut back on spending, global tourism destinations are experiencing a decline in Chinese visitors, resulting in a forecasted decrease of nearly 70% in China's outbound travel spending this year.
China's factory output and retail sales grew at a faster pace in August, but declining investment in the property sector poses a threat to the country's economic recovery.
