Goldman Sachs has cut its forecast for the MSCI China index due to a worsening slump in China’s property market. The investment bank slashed its earnings outlook for the index to zero growth for the year, down from 4% previously, according to a report published late Thursday.

The analysts also cut their MSCI China price target over the next 12 months to 81, down from 84. MSCI China tracks more than 700 China stocks listed globally, including Tencent, BYD and Industrial and Commercial Bank of China.

The index has tumbled more than 6% in July alone as worries about China’s property market added to existing concerns about Covid, tech regulation and geopolitics.

The index has tumbled more than 6% in July alone as worries about China’s property market added to existing concerns about Covid, tech regulation and geopolitics.

If you want to source products from China, Yongxin Industry can provides purchasing agency services and price negotiation services from all over the world, please contact us.