China’s statistics bureau rejects deflation concerns at Beijing press conference

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There is no deflation in China and there will be no deflation in the future, a spokesman of China’s statistics bureau said on Tuesday.

China’s economic recovery faces challenges, National Bureau of Statistics spokesperson Fu Linghui told a press conference in Beijing.

Still, the bureau expects a decline in producer price index to moderate further, according to Fu.

A customer shops for vegetables at a wet market in Beijing, China, on Aug. 10, 2023. (REUTERS/Yew Lun Tian)

China’s consumer sector tipped into deflation and factory-gate prices extended declines in July, official data showed.

Fu also said that risks for property developers could be gradually resolved due to policy optimisation.