"China suffers from overproduction and under-consumption," George Magnus, a research associate at the University of Oxford's China Centre, emphasizes the core issues impacting China's economy.
"[Chinese leaders] have finally recognized that the economy seems to be losing momentum and is not a one-off," highlighting a shift in acknowledgment regarding ongoing economic challenges.
In September, Beijing injected liquidity worth 2.7 trillion yuan to encourage lending and announced spending to address the debt crisis among property developers.
There was speculation that there would be demand-side policy to support consumption. So far, none of this has come true, indicating a gap between market expectation and reality.
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