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Factory activity in China slowed more than expected in May, as indicated by the manufacturing purchasing managers index falling to 49.5. Main reasons for the slowdown include a drop in output, weaker new and export orders, and uncertainties over U.S. market access. Analysts forecast more reforms are needed for sustained growth. ....
China recently relaxed down-payment requirements and cut minimum interest rates on some home loans as part of its effort to stabilize the housing market. Housing prices have been falling, construction has stalled and dozens of developers have defaulted on their debts after the government cracked down several years ago on excess borrowing. ....
Factory activity slowed more than anticipated last month, indicating additional strain on an economy already grappling with a prolonged crisis in the property sector, according to an official survey ....
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