Qilai Shen | Bloomberg | Getty ImagesThe International Monetary Fund (IMF) warned of a possible worsening of the state of China's property market as it trimmed its growth expectations for the world's second-largest economy.
In a report published Tuesday, the IMF trimmed its forecast for growth in China for this year to 4.8%, 0.2 percentage points lower than in its July projection.
In 2025, growth is expected to come in at 4.5%, according to the IMF.
The Washington, D.C.-based organization also highlighted that China's property sector contracting by more than expected is one of many downside risks for the global economic outlook.
Subsidies in certain sectors, if targeted to boost exports, could exacerbate trade tensions with China's trading partners," the agency said.
Persons:
Qilai Shen, Gourinchas
Organizations:
Bloomberg, Getty, Monetary Fund, IMF, The, D.C, U.S, Reuters
Locations:
Nanjing, Shanghai, China, The Washington, Japan