China's economy is entering a 'structural hard landing' as growth will remain low

• China's economy will struggle for at least the next year, TS Lombard strategists said.
• The research firm estimated China's growth would remain under 5% through 2024.
• That's because monetary easing efforts will take time to kick in and rev up the economy.

China's economy won't improve much anytime soon as growth will remain low over the next year, according to TS Lombard strategists.

The research firm forecasted that growth would stay under 5% through 2024 — compared to double-digit rates across much of the past 20 years. That implies the nation's economy will slip into a "structural hard landing," strategists said.