Economy risks deeper slowdown than realised

Slowing growth: Men work at the construction site of a highrise building in Beijing. Data released recently showed a sharp slowdown in growth to 4.9% in the third quarter from 7.9% in the previous quarter. — Reuters

BEIJING: China’s economy risks slowing faster than investors realise as President Xi Jinping’s push to cut its reliance on real estate and regulate sectors from education to technology combine with a power shortage and the pandemic.

Bank of America Corp and Citigroup Inc are among those sounding the warning that expansion will fall short this year of the 8.2% anticipated by the consensus of economists.