Chinese industrial production and fixed asset investment growth came in below forecasts in July, with the latter falling to a record low as retail sales also disappointed.
Fixed asset investment grew 5.5 per cent for the first seven months of the year, compared to the same period last year. A median forecast from economists polled by Reuters had forecast 6 per cent growth, in line with the previous month. The latest reading was the lowest on record, according to official data compiled by Wind Info and dating back to 1992.
The slowdown in investment comes despite Beijing last month announcing a series of tax cuts and infrastructure spending in a bid to stimulate demand after the country's gross domestic product grew at its slowest pace since 2016 in the second quarter.