China's industrial production records contraction for the fifth consecutive month

The industrial purchasing managers' index (PMI), a key indicator of industrial activity, stood at 49,7 in August, below the 50-point mark that separates expansion from contraction, the National Bureau of Statistics announced.

“The survey results demonstrate that insufficient market demand persists as a major problem currently faced by companies,” said Zhao Qinghe, an analyst at the state agency.

Shares of Chinese real estate group Evergrande collapse on the day it returns to the Stock Exchange

Shares in the Chinese real estate group Evergrande fell almost 80% on the Hong Kong Stock Exchange this Monday (28), the day that marked the return of the securities to the market after a 17-month suspension.

“The fundamentals of the industry’s recovery and development need to be consolidated,” he added.

The data is the most recent indicator that points to the slowdown in China's post-covid recovery due to the drop in external demand and domestic consumption.

Faced with pressure to adopt stimulus packages that help the economy, authorities promethey had measures for several sectors, in particular real estate, but without revealing details of the plans, which discourages investors.