China's economic growth target of 5% for the year is becoming increasingly difficult to achieve due to sluggish consumer spending, an uncertain export outlook, and a fragile property market.

President Xi Jinping's administration has implemented stimulus measures, but investors are calling for more decisive actions to address these challenges.

The election of Donald Trump and his threats of steep tariffs on Chinese goods are adding further pressure on the world's second-largest economy.

Deflationary pressures are mounting, with new-home prices experiencing their steepest decline since 2014 and consumer confidence at its lowest in over a year and a half.

Despite a rise in export growth, analysts from major financial institutions, including Bank of America Corp., are questioning the effectiveness of current fiscal and monetary policies in boosting domestic demand.

As of late September, fewer than 20% of economists surveyed expect China's GDP to meet the 5% growth target in 2024.

Chinese officials, including Vice Finance Minister Liao Min, have defended the country's manufacturing sector, asserting that its products offer good value and can help mitigate global inflation concerns.