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China’s economy edged out of deflation in August, as Beijing struggles to promote growth and revive investor confidence following a slide in the country’s property market and a plunge in exports.
中国经济8月份小幅摆脱通缩。在房地产市场下滑和出口暴跌之后，中国政府正努力促进经济增长，重振投资者信心。
The consumer prices index was 0.1 per cent higher year on year in August, below a Reuters poll of analysts for a 0.2 per cent increase, but emerging from the negative territory of minus 0.3 per cent recorded in July.
8 月份居民消费价格指数同比上涨 0.1%，低于路透社对分析师的调查预期 0.2%，但摆脱了 7 月份-0.3%的负值。
The producer prices index, meanwhile, fell by 3 per cent year on year, in line with analyst expectations and underlining continuing weakness in the industrial sector. But the fall was less severe than July’s 4.4 per cent fall. Producer prices were also a fraction of a per cent higher month on month.
与此同时，生产者价格指数(PPI)同比下降3%，符合分析师的预期，突显出工业部门的持续疲软。但降幅没有7月份4.4%的降幅那么严重。生产者价格(PPI)环比也上涨了不到一个百分点。
China’s National Bureau of Statistics said on Saturday the consumer prices index had on average increased 0.5 per cent in the first eight months of the year compared with the same period in 2022.
中国国家统计局周六表示，与2022年同期相比，今年前八个月的居民消费价格指数平均上涨了0.5%。
The sustained weakness in inflation in the world’s second-largest economy comes as Beijing has launched a wave of measures to try to boost demand, which has faltered since China emerged from crushing Covid lockdowns last year.
全球第二大经济体通胀持续疲软之际，北京方面推出了一系列措施，试图提振需求。自去年中国摆脱疫情封锁以来，需求一直低迷。
The country’s property market, which accounts for about a quarter of economic activity, remains on life support with large private sector developers suffering a liquidity crunch and buyers reluctant to venture into the market.
占中国经济活动约四分之一的房地产市场仍处于奄奄一息的状态，大型私营开发商遭遇流动性紧缩，买家不愿冒险进入房地产市场。
Policymakers have cut mortgage rates and relaxed stringent requirements for loans but analysts have described the measures as “piecemeal” and have called for more fiscal stimulus to boost demand.
政策制定者降低了抵押贷款利率，放宽了严格的贷款要求，但分析师称这些措施是“零敲碎打”，并呼吁出台更多财政刺激措施来提振需求。
A central problem for Beijing is that the weakness in the domestic economy has coincided with a plunge in the country’s exports, as inflation in the west suppresses consumption.
中国政府面临的一个核心问题是，在国内经济疲软的同时，由于西方的通胀抑制了消费，中国出口大幅下滑。
China’s statistics bureau said food prices dropped by 1.7 per cent in August compared with a year earlier and non-food prices increased by 0.5 per cent. Consumer goods prices dropped by 0.7 per cent and service prices increased by 1.3 per cent.
中国国家统计局表示，8月份食品价格同比下跌1.7%，非食品价格上涨0.5%。消费品价格下跌0.7%，服务价格上涨1.3%。
Among the items in the producer prices index, building materials and non-metals prices fell 6 per cent while ferrous metal materials fell 5.6 per cent.
在生产者价格指数的项目中，建筑材料和非金属价格下跌6%，黑色金属材料下跌5.6%。
China’s disappointing growth and falling exports have sparked foreign investor outflows from its stock markets and contributed to a weakening of the renminbi to lows against the dollar not seen since 2007.
中国令人失望的增长和不断下降的出口，已导致外国投资者从中国股市流出，并导致人民币兑美元汇率跌至2007年以来的最低水平。
China’s exports dropped 8.8 per cent in August compared with a year ago, according to figures released this week, but the contraction was marginally less severe than analysts expected.
本周公布的数据显示，中国8月份出口同比下降8.8%，但收缩程度略低于分析师的预期。
It was also an improvement on July’s 14.5 per cent decline, the worst since the start of the coronavirus pandemic.
这也比7月份14.5%的跌幅有所改善，7月份是新冠疫情开始以来的最大跌幅。