After a solid first quarter, investor and consumer confidence has wavered, as not only property but China’s export earnings have disappointed.
Joe Leahy in Beijing and Cheng Leng and Andy Lin in Hong Kong
After one of the toughest years for China’s economy and its investors, the country’s central bank governor had a sobering message: there may be more pain to come.
Speaking to bankers in Hong Kong last week, Pan Gongsheng warned that the country’s economy was embarking on a “long and difficult journey” away from its traditional growth engines of property and infrastructure investment.
Pan’s comments point to the principal challenges…