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2nd Sep 2025 10:20China+Daily Monitor

  • The August RatingDog services PMI flashed a warning signal about job losses, despite strong activity.
  • A court ruling on mandatory social security payments is the likely culprit, leading firms to trim workers.
  • Local governments probably won't fully enforce the rule, but the uncertainty created is hitting jobs already.

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Keywords for: 4 September 2025 China+ Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence