China's slowdown deepens in October

Beijing

CHINA's economy lost further momentum in October, with factory growth dipping and investment growth hitting a near 13-year low, testing the government's resolve to avoid stronger stimulus measures.

The soft performance cemented the view that China is on track to grow at its weakest pace in 24 years. But leaders remain reluctant to use full-blown policy easing, such as cutting interest rates.

Fixed-asset investment, an important driver of growth, grew 15.9 per cent in the first 10 months of the year from a year ago…