Chinese economy cools as government extends crackdown on factory pollution and debt risks

Chinese economy cools as government extends crackdown on factory pollution and debt risks

The previous month China's economy cooled further, with fixed asset investment, industrial output as well as retail sales missing hopes because the Chinese government extended a crackdown on debt risks and also factory pollution.

Beijing is currently in the second year of a campaign to diminish high levels of debt. The country’s government worries that riskier lending practices in particular in the real estate sector could endanger the national economy.

Tuesday’s data drew attention to moderating surge over the next few quarters because credit expansion definitely slows, with year-on-year industrial output leap of 6.2% in October missing experts’ estimates of a 6.3% soar, and below September’s 6.6% ascend.

In the January-October period fixed-asset investment surge slowed to 7.3%, as the National Bureau of Statistics informed. Market experts had expected a leap of 7.4%.

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