China’s industrial output fell short of expectations, expanding only 4.5 % in July versus the 4.8 % forecast. Retail sales rose a modest 0.6 % and fixed‑asset investment dropped 6.7 % for the first seven months, deepening a 5.7 % year‑on‑year decline. Fu Linghui highlighted extreme weather and a complex international environment as contributors, while analysts point to a prolonged property slowdown weakening domestic demand.

Second‑quarter GDP registered 4.3 % growth, the lowest since the 1990s and below Beijing’s 4.5‑5 % target band. Exports rose 23.9 %, yet factory activity unexpectedly contracted, raising concerns over momentum. In response, President Xi Jinping urged the government to accelerate fiscal spending and tap domestic demand.

Yuhan Zhang notes that policy‑driven sectors such as information transmission and air transport have risen Schleier गुल, but the broader economy remains uneven. Goldman Sachs warns that fading trade‑in subsidies will keep retail sales subdued.

Overall, China’s leadership is pushing for a stimulus‑led rebound, but weak consumer confidence and property prices still loom large.