China's economic growth has slowed due to a weakening property sector and subdued external demand. The International Monetary Fund has projected that China's economy will slow to 4.6% in 2024 and further decline to about 3.5% by 2028. The decline is attributed to sagging productivity and a rapidly aging population, as well as a crisis in the real estate market. Challenges lie ahead for Beijing as the long-term outlook may be even harsher. The IMF report also highlights that uncertainty surrounding the outlook is high.