more Chinese medicine than shock therapy

Tokyo | Slowing growth has increased pressure on Chinese leaders to inject confidence back into the world’s second-largest economy as they prepare to defend the country’s new economic strategy at the Communist Party’s “Third Plenum” policy meetings this week.

Data released Monday showed China’s economy grew much more slowly than expected in the second quarter, with domestic demand held back by the ongoing housing crisis. China’s economy expanded 4.7 percent in the April-June period, below analysts’ expectations of 5.1 percent.