chinas aim to reduce energy intensity or how much power is needed to drive output by around 3 in 2021 could drag down fullyear growth by 03 to 06 percentage points according to ming ming head of fixed income research at citic securities coa rollback of energy intensity targets before the end of the year is unlikely according to chen long a partner at consulting firm plenum this years target is above 6 so growth is not really a concern he said adding that the economy could expand by less than 4 in the fourth quarterproperty slowdownevergrande is facing a debt crisis thats roiled financial markets and drawn global attention the company only accounts for about 4 of chinas property sales so economists are more worried about a broader slowdown in realestate investment prompted by the governments efforts to slow the pace of mortgage lending and curb financing for property developerschinas central bank told financial institutions this week to cooperate with governments to stabilize the property market repeating a call for healthy development of the realestate sector that may signal a marginal adjustment of realestate credit policy to ensure people who need housing can access loans according to a report thursday on a social media account of the official securities timesdeepening slowdownbeijing wants to avoid a crash in the market but has vowed not to use the property sector to stimulate growth and so is unlikely to shift to easing restrictions significantlyrealestate investment could fall by 2 to 3 yearonyear in the second half of the year according to a baseline estimate by ubs group ag in the worstcase scenario property investment could plunge by 10 dragging down chinas economic growth by 1 to 2 percentage points in the next few months according to ubs economists led by wang tao weak consumptionchina has been tested by coronavirus clusters in southeastern and northern regions in recent weeks the nations zerotolerance approach to the virus means stringent curbs will impede an alreadyslow recovery in consumption the slowdown is most visible in chinas car sales which fell nearly 15 yearonyear in augustsightseeing slumpthe latest outbreaks led to lackluster tourism revenue over a national holiday period last week thats likely to be repeated over the sevenday national day holiday at the beginning of october with chinese health authorities advising the public to avoid unnecessary travelcommodity pricessurging prices of coal and other commodities have strangled profit growth for downstream manufacturers in sectors like electronics and automobiles who were already dealing with challenges such as record shipping costs and a microchip shortage industrial profit growth already decelerated to its slowest level in almost a year in august some factories are cutting back on production meeting only the most profitable orders raising electricity prices might be the solution to power cuts but will add to their cost burdenwhile the disruption should be cleared at some point high energy prices will nonetheless weigh on activity craig botham chief china economist at pantheon macroeconomics said in a report wednesday