China's Economic Growth: Slowing Momentum Amid Property Crisis

China's economy experienced its slowest growth rate since early 2023 in the third quarter, despite better-than-expected consumption and industrial output. A struggling property sector poses significant challenges for Beijing's growth stimulation efforts. Recent stimulus measures are considered insufficient as longer-term structural issues persist.

China's economy recorded its slowest growth rate since the beginning of 2023, with Q3 GDP figures revealing a 4.6% year-on-year increase, slightly surpassing forecasts. Despite better-than-expected performance in consumption and industrial output, the country's faltering property sector remains a significant obstacle.

Concerns are mounting over China's economic trajectory, with key figures noting a deceleration in growth momentum. Analysts highlight the inadequacy of recent stimulus measures given the deeper structural problems like high debt levels and a weakened property market.

In response to the turmoil, China released a major stimulus package in September, but experts argue more is needed to meet the growth target. As uncertainty looms, the upcoming legislative meeting is anticipated to shed more light on potential fiscal strategies.

(With inputs from agencies.)