China\`s retail sales_ industrial output miss expectations

China has reported slower-than-expected growth in factory output and retail sales for October_ as a surge in Covid cases and a deepening property slump weighs on the economy.

China_ the world's second biggest economy_ is the only major economy persisting with a zero-Covid strategy to stamp out virus clusters as they emerge_ but swift and harsh lockdowns associated with that approach have battered growth.

Last month's retail sales of the country were down 0.5% from a year earlier_ contracting for the first time since May_ according to data released on Tuesday by the National Bureau of Statistics (NBS).

The figure was below a 0.7% increase expected by Bloomberg analysts and September's 2.5% expansion.

Industrial output grew 5.0%_ less than the 5.3% growth forecast and well below the 6.3% gain in September.

"In the face of multiple challenges such as a more complex and severe international environment and new domestic (Covid) outbreaks... (officials are) stepping up efforts to implement various measures to stabilise the economy_" the NBS said in a statement.

China's banking regulator on Friday unveiled sweeping measures to rescue the country's struggling property sector with credit support for debt-laden housing developers_ and financial help to ensure the completion and handover of projects.

Fixed-asset investment rose 5.8% in January-October as the government poured billions of dollars into building new railways and industrial parks_ NBS data showed.

The unemployment rate remained stable at 5.5%.