Retail sales improve, housing market still...中 What's the effect of the stimulus package?

[Anchor]
Economic indicators reflecting China's stimulus measures came in, with retail sales at an eight-month high.

However, the real estate market remains stagnant, and the "trade war" with the U.S. after Trump returns to power next year is also a crisis.

This is Beijing correspondent Kang Jeong-gyu.

[Reporter]
'Shuangshui' , one of China's biggest shopping festivals
This year was the longest ever, with 34 days of discounts from October 8 to November 11.

It also helped with the government's "revolving" policy, which subsidizes old goods when they are replaced with new ones.

[Woo / Consumer: I find that when I order this computer, I get the benefit of a 'revolving' grant. Originally, it was 5,999 yuan (about 1.15 million won), but it was cut 1,200 yuan (about 230,000 won) due to the platform discount.]

In addition, domestic economic indicators have begun to revive thanks to the "9.24 stimulus package" and the National Day holiday.

China's retail sales rose 4.8% year-on-year in October, the highest in eight months since February.

However, industrial output grew only 5.3%, slowing the gains.

Until October this year, real estate development investment fell 10.3% and housing prices fell 5.9%, marking the 16th consecutive month of decline.

[Puringhui / National Bureau of Statistics spokesperson: The recovery of key economic indicators is clear, but the international environment is still complex and domestic demand is weak.]

This is the background of the decision to lower the real estate acquisition tax rate from the current 3% to 1% starting next month.

The redevelopment project of underdeveloped areas in the city will also be greatly expanded from 35 to 300.

Chinese authorities are confident of achieving a growth target of around 5% this year, saying the stimulus is working.

However, considering the expected decline in exports after the launch of Trump's second term, some point out that it is still insufficient.

I'm Kang Jeong-gyu from Beijing.