There is no deflation in China and there will be no deflation in the future, a spokesman of China's statistics bureau said on Tuesday.
China's economic recovery faces challenges, National Bureau of Statistics spokesperson Fu Linghui told a press conference in Beijing.
Still, the bureau expects a decline in producer price index to moderate further, according to Fu.
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A customer shops for vegetables at a wet market in Beijing, China, on Aug. 10, 2023. (REUTERS/Yew Lun Tian)
China's consumer sector tipped into deflation and factory-gate prices extended declines in July, official data showed.
Fu also said that risks for property developers could be gradually resolved due to policy optimisation.