Explained: How power, property crisis weakened China’s Q3 GDP growth

NEW DELHI: Massive power shortage and a crisis-hit property sector has battered the world’s second largest economy as it tries to stage a recovery from the Covid-19 pandemic.
China’s gross domestic product (GDP) for the third quarter (Q3) plunged to 4.9 per cent from 7.9 per cent posted in the second quarter (Q2).
The slowdown in growth can be largely attributed to the pressure created by the crisis in China’s property sector, curbs on energy and tardy recovery from the pandemic.