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China’s economy edged out of deflation in August, as Beijing struggles to promote growth and revive investor confidence following a slide in the country’s property market and a plunge in exports.
中國經濟8月份小幅擺脫通縮。在房地產市場下滑和出口暴跌之後，中國政府正努力促進經濟成長，重振投資者信心。
The consumer prices index was 0.1 per cent higher year on year in August, below a Reuters poll of analysts for a 0.2 per cent increase, but emerging from the negative territory of minus 0.3 per cent recorded in July.
8 月份居民消費價格指數同比上漲 0.1%，低於路透社對分析師的調查預期 0.2%，但擺脫了 7 月份-0.3%的負值。
The producer prices index, meanwhile, fell by 3 per cent year on year, in line with analyst expectations and underlining continuing weakness in the industrial sector. But the fall was less severe than July’s 4.4 per cent fall. Producer prices were also a fraction of a per cent higher month on month.
與此同時，生產者價格指數(PPI)同比下降3%，符合分析師的預期，突顯出工業部門的持續疲軟。但降幅沒有7月份4.4%的降幅那麼嚴重。生產者價格(PPI)環比也上漲了不到一個百分點。
China’s National Bureau of Statistics said on Saturday the consumer prices index had on average increased 0.5 per cent in the first eight months of the year compared with the same period in 2022.
中國國家統計局週六表示，與2022年同期相比，今年前八個月的居民消費價格指數平均上漲了0.5%。
The sustained weakness in inflation in the world’s second-largest economy comes as Beijing has launched a wave of measures to try to boost demand, which has faltered since China emerged from crushing Covid lockdowns last year.
全球第二大經濟體通膨持續疲軟之際，北京方面推出了一系列措施，試圖提振需求。自去年中國擺脫疫情封鎖以來，需求一直低迷。
The country’s property market, which accounts for about a quarter of economic activity, remains on life support with large private sector developers suffering a liquidity crunch and buyers reluctant to venture into the market.
佔中國經濟活動約四分之一的房地產市場仍處於奄奄一息的狀態，大型民營開發商遭遇流動性緊縮，買家不願冒險進入房地產市場。
Policymakers have cut mortgage rates and relaxed stringent requirements for loans but analysts have described the measures as “piecemeal” and have called for more fiscal stimulus to boost demand.
政策制定者降低了抵押貸款利率，放寬了嚴格的貸款要求，但分析師稱這些措施是「零敲碎打」，並呼籲出臺更多財政刺激措施來提振需求。
A central problem for Beijing is that the weakness in the domestic economy has coincided with a plunge in the country’s exports, as inflation in the west suppresses consumption.
中國政府面臨的一個核心問題是，在國內經濟疲軟的同時，由於西方的通膨抑制了消費，中國出口大幅下滑。
China’s statistics bureau said food prices dropped by 1.7 per cent in August compared with a year earlier and non-food prices increased by 0.5 per cent. Consumer goods prices dropped by 0.7 per cent and service prices increased by 1.3 per cent.
中國國家統計局表示，8月份食品價格同比下跌1.7%，非食品價格上漲0.5%。消費品價格下跌0.7%，服務價格上漲1.3%。
Among the items in the producer prices index, building materials and non-metals prices fell 6 per cent while ferrous metal materials fell 5.6 per cent.
在生產者價格指數的項目中，建築材料和非金屬價格下跌6%，黑色金屬材料下跌5.6%。
China’s disappointing growth and falling exports have sparked foreign investor outflows from its stock markets and contributed to a weakening of the renminbi to lows against the dollar not seen since 2007.
中國令人失望的成長和不斷下降的出口，已導致外國投資者從中國股市流出，並導致人民幣兌美元匯率跌至2007年以來的最低水準。
China’s exports dropped 8.8 per cent in August compared with a year ago, according to figures released this week, but the contraction was marginally less severe than analysts expected.
本週公佈的數據顯示，中國8月份出口同比下降8.8%，但收縮程度略低於分析師的預期。
It was also an improvement on July’s 14.5 per cent decline, the worst since the start of the coronavirus pandemic.
這也比7月份14.5%的跌幅有所改善，7月份是新冠疫情開始以來的最大跌幅。