People walk along a riverbank near a commercial office buildings under construction in Tongzhou, outskirts of Beijing, Monday, Oct. 4, 2021. China’s economy is losing steam as President Xi Jinping's government cracks down on corporate debt and energy use in pursuit of more stable, sustainable growth.
The world’s second-largest economy grew by 4.9% over a year ago in the three months ending in September, down from the previous quarter’s 7.9%, government data showed Monday.Construction, an industry that supports millions of jobs, has slowed since regulators tightened control last year over borrowing by developers.
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