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China’s retail ‘coma’ set to weigh on economic growth amid increasingly tight credit controls

Summary:
[unable to retrieve full-text content]China’s economic growth is on course to lose steam in the coming quarter amid Beijing’s increasingly tight credit controls and the slow recovery in consumption, which may drag down growth next year, according to reports from the World Bank and US-based research firm China Beige Book.The World Bank on Tuesday maintained its growth forecast for China’s economy at 8.5 per cent for 2021, expecting the rate to moderate to 5.4 per cent in 2022 as a result of diminishing fiscal and monetary support…

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[unable to retrieve full-text content]
China’s economic growth is on course to lose steam in the coming quarter amid Beijing’s increasingly tight credit controls and the slow recovery in consumption, which may drag down growth next year, according to reports from the World Bank and US-based research firm China Beige Book.The World Bank on Tuesday maintained its growth forecast for China’s economy at 8.5 per cent for 2021, expecting the rate to moderate to 5.4 per cent in 2022 as a result of diminishing fiscal and monetary support…

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