China's Economic Recovery Shows Signs of Strain as Property Investment Declines from challenge clapping twerk Watch Video

⏲ Duration: 0:44
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✓ Published: 18-Jun-2024

Description:
China's economy showed mixed performance in May, with property investment declining while consumer spending slightly increased compared to the previous year. The National Bureau of Statistics data revealed challenges for the country's economy, as leaders aim to meet the 2024 growth target of around 5% during the post-pandemic recovery. Property investment fell in the first five months of 2024, and Beijing announced measures to rescue the struggling property sector. Retail sales growth rose by more than 3% year-on-year in May, exceeding expectations. Analysts suggest reaching its GDP target for 2024 without additional policy measures may be 'a bit difficult.'