Proactive policy helps address price weakness
China DailyThe skyline of Beijing. In the third quarter, China's real GDP growth was 4.6 percent year-on-year, with final consumption expenditure, gross capital formation and net exports of goods and services contributing 1.35, 1.28 and 1.97 percentage points, respectively. On the one hand, real estate development investment is an important component of domestic demand, and the cumulative year-on-year growth rate of China's real estate development investment from January to September plunged 10.1 percent. In addition to the ECB's decisive monetary policy moves, the brightening external environment had also played a crucial role in easing inflationary pressure within the eurozone. These observations clearly indicate that the combination of accommodative monetary policy and proactive fiscal expansion has been crucial in driving a more robust and sustained rebound in the eurozone's price levels.
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