Bank of America cut its China growth forecast for this year on Tuesday, September 21, to 8% from 8.3%, and its 2022 forecast to 5.3% from 6.2%.More than 20 cities strengthened curbs on the property sector in August, when China's home prices showed the slowest monthly rise since December. New property starts over the first eight months fell 3.2% from the previous year.
Investors should look to the December meeting of China's Politburo for signals on next year's priorities, he added.wiped hundreds of billions of dollars from corporate valuationsWeak loan growth in August was likely in part due to the regulatory clampdown, Iris Pang, chief economist for Greater China at ING, said in a note.
The crackdown on the education and tech sectors also added to exceptionally bad services activity data for August, ING's Pang said.
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