Singapore’s primary Chinese language newspaper Lianhe Zaobao recently reported that, according to data that the National Bureau of Statistics of China just released, in May, China’s industrial output saw a five percent year-over-year growth. However, this rate is the lowest it has been in 17 years, since February 2002. Apparently, this is a direct result of the trade war between China and the United States. Analysts expressed their belief that the cause of the lower growth was a massive stimulus package, which includes tax cuts, more debt, and government spending. The growth rate was lower than expected. The same data report from the Bureau of Statistics also indicated that, in May, government revenue suffered a negative growth. Experts expect the Chinese government to make more infrastructure investments in the near future.
Source: Lianhe Zaobao, June 15, 2019