Analysts at Goldman Sachs slash China’s 2022 GDP growth forecasts to 5.2% vs. 5.6% projected earlier amid the government’s efforts to reduce property debts.

Key quotes

“China’s economy will probably expand 5.2% next year, down from a previous projection of 5.6%.”

“On a year-on-year basis, growth is set to slow to 3.1% this quarter.”

“The long-term policy direction such as property deleveraging remains unchanged as evidenced by the latest news on starting property tax trials in select cities.” 

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