Reuters reports the key highlights from the quarterly survey of thousands of Chinese firms conducted by China Beige Book International (CBB) on Wednesday.
Key Findings:
“Old economy” firms in the commodities sector sustained an increase in net capacity and production.
Overall, wages and hiring ebbed in the December quarter, with the retail sector suffering the biggest blow on weak revenue, a hiring slowdown and worsening cash flow.
The results reinforce views that China’s economy will slacken in 2018 after posting better-than-expected 6.9 percent growth through the first three quarters of this year in the run-up to a key meeting of the ruling Communist Party.
CBB said of its fourth-quarter findings: “If you expect a noticeable slowdown in 2018, the first post-Congress returns support those expectations.”
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