Several August economic indicators underscored nascent signs of stabilization in the slowdown in the Chinese economy.
Property malaise
Mainland lenders are more vigilant about risk exposure amid fears of broader contagion from the debt issues plaguing Chinese real estate developers stemming from a broader crackdown, according to the China Beige Book survey, released ahead of the monthly tranche of official China data. "Commercial property's troubles deepened, with price gains narrowing sharply and the pace of transactions sliding hard alongside," the survey administrators added. They said their proprietary Fiscal Activity Index turned positive, but the results to date are"closer to life support than a breath of fresh air.
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