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China's economic growth target of 5% in jeopardy amid property woes
Posted on October 3, 2023 |
Economists project China's 2023 economic growth to be 5%, with concerns about the property market leading to a slight downgrade.
Bloomberg Economics suggests a 5% growth goal remains achievable but not guaranteed, with an estimated 18% probability of falling short.
The property market's decline, economic fragility, and corporate debt stress pose significant challenges.
Several prominent financial institutions, including HSBC, anticipate growth below 5% for the year.
Recent data from August indicates some stabilization, but the property market continues to raise concerns.