Senior Communist Party leaders hold the high-stakes CPC Congress, China has delayed the release of economic indicators should yield including the growth figures for the third quarter.
The GDP data for QR was originally scheduled for release on Tuesday morning, China time, but the announcement was made by Beijing’s National Bureau of Statistics that the release of the economic data would be postponed.
However, they did not specify the reason for the delay or rescheduled release date. Analysts from around the world had their eyes on China’s q3 growth figures after the world’s second-largest economy grew just 0.4%.
In the second quarter of last year, a panel of experts polled by the news agency ASP predicted an average of 3% growth this year, a long way off from the 8.1% seen in 2021. If the figures are near the 3% mark, then it will be China’s weakest growth rate in four decades, except in 2020, when the global economy was hammered by the emergence of the COVID-19 pandemic.
An economic analyst says that the delay in release is not because of bad economic shape, but because the CPC wants to keep the ongoing Congress in limelight. This comes after last week, Chinese authorities separately delayed the release of September trade figures without providing an explanation for the decision.
Now for more on this, we are being joined by Simon Lee, a senior lecturer and co-director of the international business and the Chinese Enterprise Program at the CU HK business school in Hong Kong.
Welcome to the broadcast. Now, my first question to you is whether China has delayed the growth figures for the third quarter.
Well, I think it’s because of the Party Congress meeting underway in Beijing, particularly as the Chinese I think, understand the philosophy behind but because the meeting is the one that I work to focus on. So the delay of the publication of the case, I think is like where the exceptional case is.
Right. I mean, that’s what even the officials, at least the few officials that we have been able to contact in China are saying the same thing. But, you know, given China’s track record, they are not very transparent with their reasons and their reasoning.
So if at all, you know, the economy could be one of the reasons because the pandemic has hammered not just China, the US but other economies as well. And as we just told our viewers that the forecast is not looking very great. Do you think there could be any reason for that?
Now, I guess the figure will be very impressive, but still a reasonable while, from what the room was back around there. From a global point of view.
It’s not that big of a from China point that well, this figure may not be very impressive what the because, you know, the underlying reason that we have locked down your city in mainland China so that thicker carrot is quite as simple.
And also, you know, anything, any important information released by the Chinese authorities needs, whether it’s in the approval and now the senior executive or OBC with the Congress meeting, so that’s why it’s a delayed application of such sensitive tickets.
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