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Chinese Premier Li Keqiang headed an economic meeting Tuesday at which six leaders from "economically strong provinces" spoke via video. Pictured here is Li at a World Economic Forum virtual event in July 2022. Xinhua News Agency | Xinhua News Agency | Getty Images BEIJING — Chinese Premier Li Keqiang has called on six provinces to take the lead in supporting the country's growth after data for July showed a slowdown across the board. Retail sales, industrial production and fixed asset investment data released Monday missed analysts' expectations and marked a slowdown from June. It comes as China's economy registered growth of just 2.5% in the first half of the year. "Now is the most critical juncture for economic rebound," Li said at a meeting Tuesday, according to an English-language readout. He called for "resolute and prompt efforts" to strengthen the foundation for recovery. Much of that responsibility lies with six "economically st...

China's real estate industry accounts for more than a quarter of national GDP, according to Moody's. Pictured here is a residential complex under construction on Dec. 15, 2021, in Guizhou province. Costfoto | Future Publishing | Getty Images BEIJING — China's real estate troubles could spill into other major sectors if the problems persist — and three particular businesses are most vulnerable, according to ratings agency Fitch. Since last year, investors have worried that Chinese property developers' financial problems could spread to the rest of the economy. In the last two months, many homebuyers' refusal to pay their mortgages have brought developers' problems to the forefront again — while China's economic growth slows. "If timely and effective policy intervention does not materialise, distress in the property market will be prolonged and have effects on various sectors in China beyond the property sector's immediate value chain," Fi...