China's property sector is facing massive risks and authorities must meet it with 'forceful action', IMF says

• Chinese officials must take "forceful action" to address the problems in its property sector, an IMF official said.
• The group's chief economist said Beijing must enact robust policy to ensure developer risks don't spread. 
• "Clearly what this is calling for is forceful action by the authorities," he said.

The chief economist of the International Monetary Fund cautioned that Beijing authorities must enact robust policy to address the issues plaguing China's property sector. 

In a press conference Tuesday in Marrakesh, Morocco, Pierre-Olivier Gourinchas also warned that failure to act could lead to problems extend beyond troubled real estate developers.