Increases in jobs and spending indicate shift in growth engines

CHINA'S ECONOMY grew 6.9 percent in the third quarter, its slowest pace in six-and-half years, the National Bureau of Statistics said on Monday. Comments:

The slower GDP growth in the third quarter has a lot to do with the nationwide industrial transition, in which the weakness in manufacturing and property signals a proactive move to upgrade the economic structure. However, it is a bit worrying that some local governments have resorted to a series of maneuvers to control real estate prices, in the hope of securing stable growth. They should refrain from taking charge of all investments and let the market have a decisive say.

Qianjiang Evening News, Oct 20