The Balance of data does not equal

The Balance of data does not equal the balance of economic structure

By Susanne Yarow

At the end of 2021, the deleveraging campaign led by the central bank and the Ministry of Housing and Urban Rural Development gradually covered all developers and commercial banks. The real eatate investment decreased nearly 2 trillion yuan per year in 2022 and 2023((1.5 trillion yuan in 2022 and 2.2 trillion yuan in 2023). Meanwhile, the manufacturing investment increased 2 trillion yuan per year to offset the negative impact created by real estate(2.2 trillion yuan in 2022 and 1.7 trillion yuan in 2023). It seems that the overall economy has not been hit hard,but the growth driver has shifted to manufacturing from real estate.

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