More from Goldman Sachs on why they slashed their estimates for China's economic growth

As posted earlier, GS cut their projections for China:

• Goldman Sachs has cut its China 2021 GDP forecast to 7.8% (from 8.2% previously)

Local media in China wrote along the same lines:

• Chinese media says to expect a crackdown on high coal prices - citing power shortages, cuts to factory output

Via Goldman Sachs, says that there are "significant downside pressures" weighing on the

• power supply problems, brought about by environmental controls, supply constraints, soaring prices
• forcing industry to cut production
• several provinces are finding it difficult to guarantee electricity and heating for residents

Goldman Sachs

• estimate that as much as 44% of China's industrial activity has been affected
• "Considerable uncertainty remains with respect to the fourth quarter, with both upside and downside risks relating principally to the government's approach to managing the Evergrande stresses, the strictness of environmental target enforcement and the degree of policy easing"