China Faces Slower Growth Path as It Pursues Longer-Term Reforms
China’s economy recorded a steeper-than-expected economic slowdown in the third quarter of the year, expanding 4.9% from a year earlier. The growth rate reflected a host of headwinds: Tighter rules on the property market that have chilled activity in the sector, widespread power shortages and continued concerns about Covid-19 that have weighed on consumer spending.