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.