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China’s economic growth is expected to slow this year to reach 4.6 per cent, and improve in 2025 to record 4.5 per cent, a Reuters poll showed on Monday.
The forecasts increased the pressure on decision-makers to implement more stimulus measures amid deflationary pressures and the property market collapse.
“China’s economic outlook for 2024 will be shaped by the prospects of the real estate sector,” analysts at Swiss Life Asset Management said in a research note.
They added that the government’s goal was to decrease the surplus that has built up in the real estate sector in recent years, and to bring supply into line with actual demand.
