China capex growth hits three-year low as weak economy, trade war drag

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Capital investment by Chinese firms has ground to its slowest pace in three years, as a weakening economy, tight credit and prolonged trade war ...

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BENGALURU/SHANGHAI: Capital investment by Chinese firms has ground to its slowest pace in three years, as a weakening economy, tight credit and prolonged trade war with the United States dent sales growth and cash reserves, a Reuters analysis showed.

"After all, the so-called phase 1 deal is mainly about preventing things from getting worse, instead of making things significantly better," they said, referring to negotiations in a 16-month Sino-U.S. trade war punctuated by tit-for-tat import tariffs.Chinese firms raised capital spending by 1.

Though the government has taken steps to encourage lending, bankers told Reuters they have little appetite to lend to small firms due to the trade war and uncertain economic outlook, as well as a years-long drive to cut risk in the financial system. The consumer discretionary and communications services sectors were among the poorest performers, with revenue shrinking 1.4 per cent and growing just 1 per cent respectively.

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