China's industrial growth hits new low

More economic tightening measures are unlikely as Beijing's campaign to cool down the economy begins to take effect, the South China Morning Post reported. Growth in China's industrial output slowed to its lowest level this year in August, rising 15.7% year on year to US$92.6 billion. This follows growth levels of 16.7% in July and 19.5% in June, the National Bureau of Statistics said. The data adds to a number of indicators this week that showed the economy is beginning to cool, including fixed-asset investment growth of 21.5% in August compared to 27.4% in July. While the slowdown may be good news, economists warned that there is still too much liquidity in the market which may lead to aggressive policies by investors.