Country Garden’s dollar debt payments on Monday and Beijing’s new efforts to help China’s beleaguered real estate sector appear to have spurred some newfound hope in the country’s financial markets. However, the recent policy tweaks could be ineffective for China’s economy, according to Capital Economics, a London-based independent economic research firm. Business activity in China’s services sector plummeted to its lowest level in eight months in August. Data released by the Caixin China General Services show that the purchasing managers’ index (PMI) fell to 51.8 in August from 54.1 in July. Expansion is indicated by a number more than 50, whereas contraction is characterized by a number less than 50....Read more https://www.theepochtimes.com/china/china-market-sentiment-still-downbeat-despite-beijings-new-efforts-to-boost-economy-experts-5486416