Asian Traders Give Mixed Reaction As China's Economic Growth Slows

The key question is if we can see consumer confidence bottom out and begin a meaningful recovery. Pessimism has grown quite entrenched as of late, and it will take a lot of effort to break out of the doldrums.”

Lynn Song, a China economist at ING, said

For us who do business, it's obvious that there are much fewer customers coming to our store, and customers' consumption levels don't compare to before,

Yang said

Because we are labourers, we earn the lowest, basic level of income,

cleaner Li Chunyu told AFP

The economy has clearly gone downhill,

Yang Aihua, a 35-year-old tea vendor from central Hubei province, told AFP

Consumption levels are lower than before,

the 54-year-old from northern Shaanxi province told AFP

I'm afraid of thoughtlessly spending money,

she said

We don't think of consuming so much,

she said

There's a fear of consuming and spending money because there is no money,

she said

Monetary policy support alone is unlikely to right the economy,

Harry Murphy Cruise of Moody's Analytics told AFP

China is suffering from a crisis of confidence, not one of credit; families and firms do not have the confidence in the economy to warrant borrowing, regardless of how cheap it is to do so,

he wrote

With a package of incremental policies being timely rolled out ... social confidence was effectively bolstered and the economy recovered remarkably,

the NBS said

We still expect growth to slow for 2025 as a whole, with Trump likely to follow through on his tariff threats soon and persistent structural imbalances still weighing on the economy,

Huang said

The government's property support measures seem to be providing some relief, with the pace of house price falls slowing and new home sales showing some recovery,

she said

Amid a relentless barrage of economic pessimism, China's economy defied expectations with a robust five percent growth last year, nailing the government's ambitious target,

said Stephen Innes at SPI Asset Management

If we continue getting numbers like this, it's reasonable to think rate cuts could happen in the first half of the year,

he said, indicating he would not rule out a cut in March

We must be aware that the adverse effects brought by external environment are increasing, the domestic demands are insufficient."

The statistics bureau, however, cautioned

In retrospect, the policy pivot last September was meant to defend the GDP target (of around 5%),

Larry Hu, chief China economist at Macquarie Group, wrote in a research note on Wednesday

Yi KangnBS head

Since the fourth quarter of 2024, the expanded trade-in program for consumer goods has continued to yield positive effects, driving the sustained recovery of the economy,

Kang said

China's fiscal stimulus is not yet enough to address the drags on economic growth ... We are cautious long term given China's structural challenges,

BlackRock Investment Institute said in a weekly report Tuesday

Yin Yong (politician)mayor

Consumer spending remains weak, foreign investment is declining, and some industries face growth pressure,

Yin Yong, Beijing city mayor, said Tuesday in an official annual report