China’s export slump eases as economy searches for stability

News Snapshot:

While economists still expect China’s growth to match an official government target of about 5 per cent for the year, the ongoing property crisis and weak confidence remain drags. Chinese leaders have rolled out various policy measures to shore up the economy after the country’s rebound from the COVID-19 pandemic fizzled earlier than expected. The central bank has eased borrowing rules and cut mortgage rates for first-time home buyers while providing some tax relief measures for small businesses. Authorities have so far avoided any large-scale fiscal stimulus amid concerns over the high debt levels in the economy. Some economists project...