Prices paid by manufacturers in China are on the down, leading to a slowdown in inflation among consumers.

In November, China's factory-gate prices showed an annual dip for a second consecutive month, while consumer inflation moderated, which is indicative of poor activity and tepid demand in an economy that has been held back by strict financial controls.

According to the analysts' statements, they anticipated that the government will maintain low interest rates and take steps to boost confidence.

According to data released by the National Bureau of Statistics (NBS) on Friday, the producer pricing index (PPI) was down 1.3% on a year earlier, which is the same as the annual contraction witnessed in October. That was a slower decline than the 1.4% drop that was predicted in a poll by Reuters.

The consumer price index (CPI) for November climbed by 1.6% from a year earlier, which was less than the 2.1% annual gain that was observed in October but was in line with a poll conducted by Reuters. This was the slowest pace of growth seen in the CPI in eight months.

Zhiwei Zhang, chief economist at Pinpoint Asset Management, stated that "these data show the economic momentum (continues to decline)" in response to the recent economic data.

At a high-level political conference on Tuesday, which was a convening of the ruling Communist Party's Politburo, it was emphasized that the government's primary priority in 2023 would be on maintaining stable growth, increasing domestic demand, and opening up to the rest of the world.

Zhang stated that additional steps would be taken to stimulate the economy, even though the government has loosened regulations on the pandemic during the course of the previous week.

According to what he had to say, "The meeting of the Politburo... highlighted weak confidence as a serious challenge for the economy." The rapid speed of reopening demonstrates the sense of urgency that exists within the administration, and as a result, I anticipate that the government will take additional steps to enhance market and household confidence.

This year, growth in the world's second-largest economy has slowed, primarily as a result of the rigorous COVID-19 limitations, which came into effect at a time when global demand was also faltering.

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