China is likely to set a floor for economic growth of 5% next year as it tries to balance a desire to rein in the real-estate sector with the need for stability in a year of crucial political change.
That’s the consensus among economists after year-on-year growth weakened to below that threshold in the second half of this year. The target would represent a sizable drop from pre-pandemic growth rates that were closer to 7%, and reflect expectations that Beijing will persist with its efforts to reduce its reliance on real estate even at the cost of slower growth.
