China's Economy Is Increasing At Its Unrushed Pace since the Financial Calamity

China's 3Q GDP growth slowest since 2009

China economic growth slowest since global financial crash

Chinese shares have tumbled at the fastest pace worldwide this year as concerns about trade tensions and weak economic growth combined with fears of forced selling by investors who pledged more than $600 billion of shares as collateral for loans. That was down from 6.7 percent for the quarter ending in July and 6.8 percent for the year's first three months. American officials worry they might threaten US industrial leadership.

The head of China's central bank joined numerous chief financial regulators to make pledges of support in an unusually coordinated display of positive rhetoric.

NBS spokesman Mao Shengyong said China's economic growth remained generally "faced with an extremely complex environment overseas and the daunting task of reform and development at home". The Shanghai Composite index fell 0.4pc, while the CSI300 index of large companies dipped 0.2pc.

"The recent stock market volatility is primarily the result of investor expectations and emotions", said the Chairman of the People's Bank of China, Yi Gang, according to a CNBC translation.

In an interview with Xinhua News Agency, Vice Premier Liu He played down the economic pressures that the country is wrestling with.

China's yuan edged up against the US dollar on Friday but was still set for a weekly loss.

"Frankly, the psychological impact is bigger than the actual impact", he said.

The difference between American exports to China and United States imports from China has risen in the past two decades.

Washington, Europe and other trading partners complain those plans violate Beijing's market-opening commitments. That's the lowest reading since the height of the global financial crisis in 2009.

"GDP growth is likely to slow to 6.0-6.25% next year". That could limit Beijing's room to maneuver when negotiating with the US, whose economy is growing robustly.

There are external factors, such as global stock wobbles caused by interest rate hikes at major economies' central banks, and the China-United States trade frictions, and China's own economic reform has affected the markets, he said, adding that future economic uncertainties have influenced investor behavior. He prophesies that the slump will collapse around the middle of next year.

Trade accounts for a smaller share of the economy than it did a decade ago but still supports millions of jobs.

With winter approaching, the Asian stock market has been rattled on consumer fears of a slowdown in economic growth, with stocks plunging to an nearly four-year low this week. However, such steps could further exacerbate the country's debt problems.

Private companies are struggling with liquidity concerns, the economic outlook is slowing as a trade war with the USA deepens, and a weakening yuan is starting to prompt capital outflows.

The officials said various measures would be introduced to ease Chinese companies' financing difficulties and further stabilise the financial system, and that China would stick to a "neutral" monetary policy. Investment in factories and other fixed assets rose 5.4 percent in the first three quarters, down 0.6 percent from the first half. This year's plunge in China's stock markets, according to economists and analysts, is also taking a toll on consumers.

Retail sales rose 9.2 percent in September from a year earlier, bouncing back after several months of lackluster growth.

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