China's national statistics bureau said the country's consumer price index (CPI) dropped 0.3 per cent year-on-year last month.
The National Bureau of Statistics said Wednesday that the consumer price index dropped 0.3% year-on-year last month — the first decline since February 2021.
The data comes a day after trade figures showed exports and imports both slumping in July and follows a spate of reports on more debt troubles in China's giant property sector. Asian shares were on the defensive on Wednesday as the Chinese price data confirmed its economic recovery was losing steam. Chinese President Xi Jinping attends attends a signing ceremony with Palestinian President Mahmud Abbas at the Great Hall of the People in Beijing on June 14. Picture: Jade Gao - Pool/Getty Images
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