China's 5% Growth Target Depends On Real Estate Recovery

The recovery of the real-estate market and whether authorities can implement a series of policies for developers will form the key to reaching 5% GDP growth in 2024, said Lian Ping, chairman at the China Chief Economists Forum. Possible cuts to both the reserve requirements and interest rates, the likely rebound of both CPI and PPI, the stabilisation of consumption and exports, alongside the dual drivers of infrastructure and manufacturing investment, will help boost the economy to its growth target, said Lian. Sheng Songcheng, former central bank official, said the housing sector may show an L-shaped recovery and it is impossible for China to stimulate growth significantly through real estate in future. (Source: 21st Century Business Herald)