China economy set to slow after successive batterings: Report

Crackdown on property market, energy crunch to hamper growth

China is counting the cost of a multiple whammy of hits to its economy, from a crackdown on the property market and an energy crunch to stringent virus controls and soaring commodity prices.  
 
The cumulative impact will show in gross domestic product for the third quarter due on Monday, with growth forecast to slow to 5 per cent from 7.9 per cent in the previous three months. Further illustrating that picture will be monthly industrial and investment data the same day, revealing the severity of electricity shortages last month.
 
China’s slowdown will ripple across Asia and the rest of the world, knocking commodity markets like steel and iron ore that are reliant on the country’s construction activity.  Beijing will likely still meet its modest full-year growth target of more than 6 per cent, meaning authorities may be in no rush to pump in stimulus.

China internet sector scrutiny to continue

China will continue its scrutiny of the internet sector, rooting out practices including the blocking of site links by rival platforms and ensuring smaller players have room to develop, its industry minister  Xiao Yaqing said. (Reuters)

‘Coal crunch to ease in coming months’

China’s coal shortage may ease in coming months, with domestic output and imports already showing signs of picking up, the China Coal Transportation and Distribution  said, amid government efforts to tackle tight supply. (Reuters)

China could widen property tax trial

China could expand pilot testing of a property tax to Zhejiang province, a former government expert was quoted as saying on Sunday in the latest sign that the country is moving closer to adopting the long-discussed levy.  (Reuters)