China Clashes With IMF Over Property Downturn, Growth Rate
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China’s real estate market is in an unresolved crisis and Beijing needs to do more to support the sector, the International Monetary Fund said, earning a sharp rebuke from Beijing.
In its annual review of China’s economy on Friday, the IMF said the “real estate crisis remains unresolved,” and despite the broadening policy response, the slump in the sector has “continued and the need for large-scale restructuring remains.”