"This is a systemic failure," said Arthur Kroeber, Beijing-based editor of the respected China Economic Quarterly.

“这是一个系统性故障，说：”阿瑟·克罗伯，北京的编辑，尊重中国经济季刊。

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This signal, says Arthur Kroeber, an economist at Dragonomics, aresearch firm in Beijing, is more important than the exact amount of cash on offer.

来自龙州经讯，北京某研究机构的阿瑟‧克劳博说，这个信息比具体的救市金额更重要。

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Even these robust retail sales understate the strength of consumer spending, says Arthur Kroeber of Dragonomics, a Beijing-based economic research firm.

设在北京的经济研究公司Dragonomics的Arthur Kroeber说，即使是这些强劲的销售数字，也没有完全体现出消费支出的强健。

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Even these robust retail sales understate the strength of consumer spending, says Arthur Kroeber of Dragonomics, a Beijing-based economic research firm.

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"I think the leadership may be looking at the recent performance and over-estimating how good they really have done, " said Arthur Kroeber, managing director of the research firm Dragonomics.

BBC: China to address economic imbalance

Arthur Kroeber of GK Dragonomics, a consultancy, says the country still enjoys a considerable tailwind from urbanisation and a huge potential for productivity gains as it adopts new technology.

ECONOMIST: China��s roaring growth cannot last indefinitely