????過(guò)去10年拉動(dòng)中國(guó)經(jīng)濟(jì)增長(zhǎng)的兩大引擎已經(jīng)風(fēng)光不再，中國(guó)消費(fèi)者的堅(jiān)挺表現(xiàn)則可圈可點(diǎn)。

????國(guó)家統(tǒng)計(jì)局于周二公布，全國(guó)房?jī)r(jià)10月份繼續(xù)呈下跌趨勢(shì)，月環(huán)比下降0.8%，同比降2.6%。雖然環(huán)比降幅小于9月份的1%，但是房地產(chǎn)行業(yè)的下行趨勢(shì)絲毫未變。

????70個(gè)大中城市中，新建住宅價(jià)格下跌的有69個(gè)。同比來(lái)看，67個(gè)城市房?jī)r(jià)下跌，而9月份這個(gè)數(shù)字僅為58個(gè)。

????今年第三季度，官方公布的中國(guó)整體經(jīng)濟(jì)年化增長(zhǎng)率降至7.3%，這是2009年以來(lái)的最低水平，建筑業(yè)和房地產(chǎn)滑坡可以說(shuō)是最重要的原因。中國(guó)政府已開(kāi)始暗示，明年增速將進(jìn)一步放緩。習(xí)近平主席上周表示，7%的增長(zhǎng)率“沒(méi)那么可怕”。

????經(jīng)濟(jì)放緩的另一個(gè)原因是，隨著反壟斷監(jiān)管持續(xù)收緊、商業(yè)腐敗行為受到打擊，以及中央反腐措施造成奢侈品需求下降，外商對(duì)華投資下降。

????商務(wù)部周二公布的其他數(shù)據(jù)顯示，10月份外商直接投資同比下降1.2%，但略好于9月份1.4%的降幅。路透社報(bào)道稱，美國(guó)對(duì)華投資同比下降16%，來(lái)自于歐盟的投資下降了24%。報(bào)道認(rèn)為，隨著中國(guó)政府把重心轉(zhuǎn)移到促進(jìn)國(guó)內(nèi)消費(fèi)，服務(wù)業(yè)將更多的受益。10月份這個(gè)行業(yè)吸引的投資最多，達(dá)到531億美元，制造業(yè)吸引的投資為325億美元。

????為促進(jìn)經(jīng)濟(jì)持續(xù)增長(zhǎng)，中國(guó)政府已經(jīng)簽署了三項(xiàng)重大自由貿(mào)易協(xié)定——中美、中韓貿(mào)易協(xié)定上周簽字，周一又和澳大利亞簽署了自貿(mào)協(xié)議。

????中澳自貿(mào)協(xié)定將取消或大幅下調(diào)眾多澳大利亞農(nóng)產(chǎn)品的關(guān)稅，包括葡萄酒，以及許多澳大利亞自然資源和藥品也將享受優(yōu)惠關(guān)稅。同時(shí)，該協(xié)定還大大提高了中國(guó)服務(wù)業(yè)的開(kāi)放程度，包括法律和金融服務(wù)領(lǐng)域。

????澳新銀行（ANZ）的分析師表示，中澳貿(mào)易是世界上規(guī)模最大、增長(zhǎng)最快的貿(mào)易關(guān)系之一，這份協(xié)議將大大有利于兩國(guó)貿(mào)易。協(xié)定全面實(shí)施后，95%的商品貿(mào)易將免征關(guān)稅。（財(cái)富中文網(wǎng)）

????譯者：Jennifer

????審：Charlie

????It’s a good job that Chinese consumers are holding their end up, because two of the engines that have driven the economy for the last 10 years just aren’t firing any more.

????The National Bureau of Statistics said Tuesday that the nationwide real estate slump continued in October, as prices fell 0.8% on the month and were down 2.6% from a year earlier. Although that’s a slower decline from the 1% drop posted in September, it still leaves the sector firmly on a downward path.

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????Of 70 large and medium-sized cities, prices for new residential buildings fell in 69. In year-on-year terms, prices were down in 67 cities, compared to only 58 in September.

????The slowdown in construction and real estate has been arguably the biggest single factor in China’s overall official growth rate slowing to an annualized 7.3% in the third quarter of this year, the lowest since 2009. Beijing has already started to drop hints it will slow further next year, with President Xi Jinping saying last week that a rate of 7% “would not be a disaster.”

????Another factor behind the slowdown has been a fall in foreign investment into the country, against a background of tightening antitrust regulation, a clampdown on corrupt business practises and slowing demand for luxury goods due to Xi’s anti-corruption campaign.

????Other data released Tuesday by the Ministry of Commerce showed that foreign direct investment was down 1.2% year-on-year in October, albeit that was a slight improvement from a drop of 1.4% in September. Investment from the U.S. fell 16% on the year, and flows from the E.U. fell 24%, Reuters reported. Reuters said the service sector, which stands to gain more from the authorities’ new focus on developing domestic consumption, attracted the most investment, with $53.1 billion, while the manufacturing sector attracted $32.5 billion.

????To help sustain growth, Beijing has made three major deals on trade liberalization in the last week–with the U.S., South Korea and, on Monday, Australia.

????The Australian deal, signed on Monday, will scrap or sharply reduce tariffs on a wide range of Australian agricultural products, including wine, as well as on many natural resources and pharmaceuticals. It also gives much freer access to the service sector, including legal and financial services.

????Analysts at ANZ said the deal will bring major benefits to one of the world’s biggest and fastest-growing trade relationships, with 95% of goods between traded tariff-free when the deal is fully implemented.