China’s third quarter data has been delayed, spurring queries, as Xi Jinping takes power at the party congress. China’s GDP is currently majorly below the third quarter target, the intensification of these stock fall come from downfall of the property market and the tycoons in the past quarter. There is huge concern for the world’s second largest economy. In the past three decades this is, for sure, the lowest growth of GDP. There has been ‘panic selling’ of shares to grow the economy and also reduce the pressure for investors. Despite, creation of more local housing in the last few months, the lower-tier cities are still facing hardship from the weaker growth, due to the investment, as compared to the cities. Thus issues of population outflows and potential oversupply problems.
Will China hit its target of 5.5%, or is the world known powerhouse weakening?