Part 4/14:
Economists warn these trends could have broader implications for China’s economy. City economist Yuang Jong suggests that the persistent slump might push the country's GDP growth for the year below Beijing’s near-5% target. Former finance minister Loi, speaking at a recent summit, emphasized that systemic risks are contained for now, but warned that a comprehensive restructuring of the property market may take at least five more years. Such a protracted downturn could mean a decade of ongoing property crises if fundamental reforms are not implemented.