China's economy stumbles on power crunch, property woes

27 Sept 05:30 Key points summarised by AI

China's economy recorded its slowest growth in a year during the third quarter, expanding just 4.9% and missing forecasts, signaling a faltering recovery.
The significant slowdown is primarily attributed to widespread power shortages, persistent supply chain bottlenecks, and major instability in the property market, including the China Evergrande Group debt crisis.
Industrial output and new construction starts plummeted to multi-year lows, reflecting the severe impact of these challenges, although retail sales showed unexpected resilience.
Policymakers are under pressure to implement measures to shore up growth, but they face a delicate balance, remaining cautious about the property bubble and high debt levels, which may delay substantial monetary easing.

New home loan scheme aims to boost property sector with Bt125 billion

20 Oct 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.