The economy is currently experiencing a
downturn, with high unemployment and declining business activity.
经济目前正处于衰退期，失业率上升，商业活动下滑。
The stock market
downturn wiped out millions of investors' savings.
股市的下跌让数百万投资者的储蓄化为乌有。
Many small businesses suffered during the economic
downturn, as consumer spending decreased.
许多小企业因消费者支出减少，在经济衰退期间遭受了损失。
The real estate market
downturn forced many homeowners to sell their properties at a loss.
房地产市场的衰退迫使许多房主不得不亏损出售房产。
The government implemented stimulus measures to combat the effects of the
downturn.
政府采取刺激措施来应对经济衰退的影响。
During the
downturn, people cut back on unnecessary expenses and focused on saving for the future.
在经济衰退期间，人们减少了不必要的开支，更多地为未来储蓄。
The
downturn led to a decline in tourism, as travelers became more cautious with their travel plans.
经济衰退导致旅游业下滑，旅行者对旅行计划变得更加谨慎。
The
downturn caused widespread uncertainty, as businesses struggled to predict future demand.
衰退带来了普遍的不确定性，因为企业难以预测未来的市场需求。
The
downturn forced companies to downsize, resulting in layoffs and reduced working hours.
经济衰退迫使企业裁员和削减工时以应对困难。
Economists are hopeful that the
downturn will eventually give way to a recovery, fueled by government support and stimulus efforts.
经济学家期待着在政府支持和刺激措施的帮助下，衰退最终会过渡到复苏阶段。
Tao further explained that people need a little bit of happiness in their lives, especially after the pandemic and during the time of economic downturn.
陶进一步解释说，人们的生活需要一点幸福，尤其是在疫情之后和经济低迷时期。
Meanwhile, shares of China Evergrande Property Service Group Ltd — a subsidiary of China Evergrande Group — initially rose by as much as 14 percent during morning trading, but experienced a downturn and closed with a dip of over 3 percent.
与此同时，中国恒大集团旗下的中国恒大物业服务集团有限公司的股价在早盘交易中最初上涨了14%，但经历了低迷，收盘时下跌了3%以上。
Meanwhile, after initially rising by as much as 14 percent, China Evergrande Property Service Group Ltd, a subsidiary of China Evergrande Group, experienced a downturn with a dip of over 3 percent during morning trading.
与此同时，中国恒大集团旗下的中国恒大物业服务集团有限公司在最初上涨14%后，在早盘交易中出现了下跌，跌幅超过3%。
Q: With recent measures to address the property market downturn and boost confidence in the capital market and the private economy, what's your outlook for the Chinese economy for the rest of the year and 2024?
Q： 随着最近采取措施应对房地产市场低迷，增强对资本市场和私营经济的信心，你对今年剩余时间和2024年中国经济的前景如何？
How should the authorities solve the problem of property market downturn combined with local government debt pile-up without aggravating the problems in the long term?
从长远来看，当局应该如何在不加剧问题的情况下解决房地产市场低迷和地方政府债务堆积的问题？
To achieve moderate growth pace, or even potentially higher growth, China needs to provide sufficient countercyclical policy support to boost near-term domestic demand so as to avoid deflation and put an end to the property downturn.
要实现适度增长，甚至可能实现更高的增长，中国需要提供足够的逆周期政策支持，以提振近期国内需求，从而避免通货紧缩，结束房地产低迷。
Q: There are rising discussions of whether China is about to follow Japan's path of “the lost decades” because of the common challenges facing the two economies, such as an aging population, property market downturn and potential deflation risks.
Q： 由于人口老龄化、房地产市场低迷和潜在的通货紧缩风险等两个经济体面临的共同挑战，人们越来越多地讨论中国是否会走上日本“失去的几十年”的道路。
Major machinery manufacturer Guangxi Liugong Group plans to further boost its overseas business to offset the domestic industry downturn, targeting a 50 percent share from the current 43 percent within three to five years.
主要机械制造商广西柳工集团计划进一步扩大其海外业务，以抵消国内行业的低迷，目标是在三到五年内从目前的43%增长到50%。
It said a surge in overseas business performance has offset the domestic industry downturn and contributed to the company's overall growth.
该公司表示，海外业务业绩的激增抵消了国内行业的低迷，有助于公司的整体增长。
Expanding overseas business has become the choice for many machinery engineering companies to discover new growth points amid the downturn in the domestic industry, experts said.
专家表示，在国内行业低迷的情况下，拓展海外业务已成为许多机械工程公司寻找新增长点的选择。