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China sees slower retail and industrial growth in July
Official data showed that China's economic growth stalled in July, with retail sales decreasing by 0.6% year-on-year, well below the forecast of a 1.5% increase. Industrial production growth also slowed to 4.5% from 5.3% in June, amid continuing pressures on the Chinese economy, which is striving to achieve a growth rate between 4.5% and 5% this year—its lowest official target in decades. Additionally, fixed asset investments declined by 6.7% from January to July, reflecting ongoing challenges for China's economy despite some sectors still experiencing growth.
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