China's GDP Growth Slows to 4.2% as Property Crisis Deepens
The world's second-largest economy faces mounting headwinds as real estate sector troubles continue to drag on growth.
China's economy grew at its slowest pace in over three decades during the first quarter, with GDP expanding just 4.2% year-over-year as the property sector crisis continues to weigh on growth.
The figures missed government targets and economist expectations, raising concerns about the sustainability of China's economic model. Property investment fell 12% while consumer spending remained subdued.
"China is facing structural challenges that won't be solved quickly," said a senior economist at a global bank. "The property sector was 30% of GDP, and that model is broken."
Beijing has signaled it may introduce additional stimulus measures, but analysts remain skeptical about their effectiveness given the magnitude of the challenges.
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