Greg Baker | Afp | Getty ImagesBEIJING — Without more stimulus, China is increasingly likely to miss its growth target of around 5% this year, economists said.
"In such a case, economic momentum may stay subdued in the rest of the year and China may miss this year's growth target of around 5%," she said.
China is the world's second-largest economy, and accounted for nearly 18% of global GDP in 2022, according to World Bank data.
"We also see bigger downside risk to our 4.9% y-o-y growth forecast for both Q3 and Q4, and it is increasingly possible that annual GDP growth this year will miss the 5.0% mark," the report said.
Growth vs. national securityChinese authorities' initial crackdown on real estate developers in 2020 was an attempt to curb their high reliance on growth.
Persons:
Greg Baker, Tao Wang, spender, Nomura Ting Lu, Ting Lu, haven't, Louise Loo, Loo, that's, Xiangrong Yu, Gabriel Wildau, Teneo, Wildau
Organizations:
Afp, Getty, UBS Investment Bank, Bank, China, People's Bank of, Oxford Economics, Zhongrong International Trust, Information, Beijing, CNBC, Baoshang Bank, Anbang
Locations:
Beijing, BEIJING, China, Asia, People's Bank of China