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| Shaun Rein |
The Voice of America:
The continuing slowdown comes as Chinese leaders push through measures aimed at rebalancing the country’s economy, diminishing its reliance on manufacturing for exports and government investment in core industries.
Shaun Rein, managing director at the China Market Research Group, says that the latest data show China’s economy is still overly reliant in investments in physical assets, such as real estate and infrastructure.
“Fixed asset investment grew 20.1 percent year over year, that is still far too high, we should be more on the 18 to 19 percent range,” he said.
Rein says that more of the economy needs to depend on consumer spending and the latest figures show that may be happening. Retails sales grew 13.3 percent in the first half of 2013 – an indication that consumers are starting to account for a bigger slice of GDP growth.
“You still see continued consumer confidence, continued spending going forward,” he says, “but it’s not an easy switch and there will be pains in the economy going forward as we make that shift.”More in the Voice of America.
Shaun Rein is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers' request form.
China Weekly Hangout
Education is one of the key investments Chinese make for their offspring. The +China Weekly Hangout discussed in February the future of Chinese students when they start an international study. +Andrew Hupert, formerly working for the NYU Shanghai campus and +Paul Fox, lecturer at the HKU School of Professional and Continuing Education joined +Fons Tuinstra, president of the China Speakers Bureau.
The +China Weekly Hangout will hold on Thursday 18 July an open office where you can drop in to discuss upcoming subjects, panelists and current affairs in China. Here is our announcement, or you can register for participation right away on our event page.
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