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China Growth Target Hangs in Balance While Economists Cut Forecasts
China will just about meet its economic growth target of around 5% for this year, the latest Bloomberg survey shows, although the ongoing property crisis is raising the risk of a miss. The economy is projected to expand 5% in 2023, according to the median estimate in a new Bloomberg survey of 78 economists — a 10 basis point-downgrade from an earlier poll, with analysts citing property as the biggest challenge for the nation. “The real estate sector will continue to be under mounting pressure” despite recent government efforts to support property, said analysts at Poseidon Partner, a Hong Kong-based investment ... (full story)