The National Bureau of Statistics released first‑three‑quarters data on the
19th. Lu Liping, professor at Renmin University School of Finance and deputy
director of the China Banking Research Center, said the economy shows pronounced
divergence across demand, prices and growth momentum and that policy is shifting
from short‑term stimulus toward long‑term institutional reform. On demand,
exports are strong while retail sales and fixed‑asset investment remain weak. On
prices, producer‑side price moves have not fully transmitted to consumer prices.
On growth momentum, old and new drivers display mixed strength.
