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China's 'around 5%' growth target warning warning...Unleash money with a white flag.

2024.10.18 PM 07:08
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A McDonald's wedding instead of a hotel wedding hall for young Chinese people

"Let's save money" A small wedding ceremony for hot pot merchants is also popular

the speed of a new wind caused by frozen consumption and harsh economic realities.
[Anchor]
China's economic growth rate in the third quarter was only 4.6%, which turned on a warning light to achieve its goal of around 5% this year.


Xi Jinping's third administration, which was skeptical of short-term stimulus measures, also began to release money in earnest with a white flag.

This is Beijing correspondent Kang Jeong-gyu.

[Reporter]
The bride and groom dressed in robes are congratulated by the guests.

However, the place where the wedding is held is not the wedding hall, but the hamburger store McDonald's.

There is also an increasing number of cases of small weddings at Haidilao, a famous Chinese hot pot franchise.

It is a new wind speed created by Chinese young people who have taken care of the substance instead of face, frozen consumption and tough economic reality.

[Bride/Bride/Hot Pot chain wedding: My husband is from Inner Mongolia, so I ordered Hurunbayal beef! (For you to taste my hometown here...]

In the third quarter of this year, China's economic growth rate was only 4.6%, marking a downward trend following the second quarter.Warning lights also illuminated to achieve the

'5%' growth target.

Last month, starting with the so-called "9.24 stimulus package," this is the background for pouring out money-releasing policies in the fourth quarter.

[Sung Liyun / Deputy Director of National Statistics China: Expanding domestic demand and introducing expansionary fiscal policies in the face of complex and strict external environments and new conditions in domestic economic operations]

On the day of the third quarter's earnings announcement, Chinese commercial banks lowered deposit rates by 0.25%p at once.

China's central bank has also signaled a de facto benchmark interest rate (LPR) cut next week.

The government-administered researcher argued that 2,000 trillion won worth of finances should be released to promote demand.

This means that Xi Jinping's third term in office, which insisted on long-term constitutional improvement instead of short-term stimulus measures, is so desperate that it has to suddenly change its direction.

I'm Kang Jeong-gyu from Beijing.



Photo editing: high light
Design: Ji Kyung-yoon




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