The much-awaited uplift from China is not on the horizon

CHINA’S economic growth is in jeopardy. With that, all hopes for a stellar post-pandemic recovery in the world’s powerhouse to re-energise a slowing global economy need to be set aside.

If anything, those expectations now seem far-fetched – a hard truth that’s unchanged by the raft of recent measures unveiled by Beijing to prop up its ailing stock and property markets.

Over the weekend, China announced a stamp-duty cut on stock trading to boost its stock market and restore investor confidence. The authorities also extended personal income-tax rebates for people who buy new homes within one year of selling till 2025, to support its crisis-hit property sector.