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China GDP to slow to 5% in Q3 amid property woes: Nikkei survey

Evergrande debt crisis seen stifling economy for remainder of 2021

HONG KONG -- China's year-on-year economic growth is expected to slow to 5% in the July-September period, according to a survey of 29 economists conducted by Nikkei and Nikkei Quick News.

Strict COVID-19 measures and power shortages were seen as crimping the expansion in the world's second-biggest economy. Economists says that China's real estate troubles are the main risk for the remainder of the year, especially the impact of Evergrande's debt crisis on the industry and its fallout for the banking and insurance sectors.

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