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China stats bureau sees no deflation risks, plays down property woes

Published 08/14/2023, 11:12 PM
Updated 08/14/2023, 11:18 PM
© Reuters. FILE PHOTO: A customer shops for vegetables at a wet market in Beijing, China August 10, 2023. REUTERS/Yew Lun Tian

BEIJING (Reuters) - There is no deflation in China and there will be no deflation in the future, a spokesman of China's statistics bureau said on Tuesday.

China's economic recovery faces challenges, National Bureau of Statistics spokesperson Fu Linghui told a press conference in Beijing.

Still, the bureau expects a decline in producer price index to moderate further, according to Fu.

© Reuters. FILE PHOTO: A customer shops for vegetables at a wet market in Beijing, China August 10, 2023. REUTERS/Yew Lun Tian

China's consumer sector tipped into deflation and factory-gate prices extended declines in July, official data showed.

Fu also said that risks for property developers could be gradually resolved due to policy optimisation.

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