The latest China Beige Book, a quarterly report modeled after the US Federal Reserve’s Beige Book business survey, found widespread government efforts to reignite growth unlikely, Bloomberg reported, citing the private survey’s findings. Struggling retail and residential real-estate industries countered improvements in manufacturing and transportation, the survey showed, while hiring picked up and corporate profit margins improved. “The absence of deteriorating conditions for most firms, both in terms of hiring and margins, does much to explain Beijing’s reluctance to introduce more large-scale stimulus,” Leland Miller, president of the report’s publisher China Beige Book International, said in a statement together with research and polling director Craig Charney.
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