China's Economic Growth Expected to Decelerate, Government Adjusts GDP Target

The World Bank forecasts a slowdown in China's economic expansion for 2026 and 2027, attributing it to a prolonged downturn in the property sector and reduced consumer spending. In response, the Chinese government has set its lowest GDP growth target since 1991. Concurrently, the People's Bank of China is implementing measures to bolster Hong Kong's role as an offshore yuan hub, aiming to address economic challenges and maintain financial stability.