China's property loans see fast growth
8 years, 8 months ago

China's property loans see fast growth

China Daily  

BEIJING - Loans to the real estate sector grew fast as the property sector continued to recover, data from the central bank showed Thursday. By the end of June, financial institutions in China had lent 23.94 trillion yuan to the property sector, up 24 percent year on year, according to a report from the People's Bank of China. Outstanding loans for real estate development amounted 5.41 trillion yuan at the end of June, up 10.9 percent year on year, while loans for individual purchases jumped 30.9 percent to 16.55 trillion yuan. New-home prices soared 47.4 percent year on year in the southern city of Shenzhen, the sharpest increase in June among all the major cities.

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History of this topic

Falling prices signal bigger troubles ahead for China’s economy
3 weeks, 6 days ago

Falling prices signal bigger troubles ahead for China’s economy

Associated Press  

BEIJING — When he bought an apartment near a good high school in northeast Beijing in 2020, Zhou Fujin expected that renting it out would cover most of his mortgage. Share Share Copy Link copied Email Facebook X Reddit LinkedIn Pinterest Flipboard Print “Given that I work in the real estate sector, my income has been greatly affected,” Zhou told …

China's leaders gather to hash out Trump tariff battle plans
1 month ago

China's leaders gather to hash out Trump tariff battle plans

Raw Story  

by Peter Catterall and Oliver Hotham China's leadership convenes next week for closed-door meetings to hammer out plans to shield the ailing economy from tariffs and trade threats from U.S. President Donald Trump. Ahead of the meeting, Chinese President Xi Jinping admitted the country's economy was facing "numerous difficulties", writing in an article set to be published this week in …

Shanghai aims to play leading role in Chinese-style modernization
1 month, 1 week ago

Shanghai aims to play leading role in Chinese-style modernization

China Daily  

By WANG YING in Shanghai | chinadaily.com.cn | Updated: 2025-02-19 22:13 As part of its efforts to become a socialist, modern and international metropolis with global influence, Shanghai will strive to play a leading role in Chinese-style modernization, and make high quality development, further deepen reform and expand opening-up, promoting integrated development of scientific, technological and industrial innovation as its …

China’s Credit Expansion Picks Up in January on Lending Push
1 month, 2 weeks ago

China’s Credit Expansion Picks Up in January on Lending Push

Live Mint  

China’s credit expansion picked up more than expected in January from a year ago, thanks to banks’ seasonal lending push and strong sales of government bonds. Credit growth also benefited from a surge in government bond sales, which reached an all-time high for January at 920 billion yuan, according to a note by Citigroup Inc. economists published prior to the …

Shanghai seeks public opinion on new residential projects
1 month, 3 weeks ago

Shanghai seeks public opinion on new residential projects

China Daily  

Three new residential projects comprising 479 units of apartments were posted on the official website of Shanghai's real estate trade center to seek public opinions, according to a report by local news portal Shanghai Observer. One of the three residential projects is situated in downtown Jing'an district with an average price of 119,411 yuan per square meter, and the other …

China's home prices, sales fall further in January: Report
1 month, 4 weeks ago

China's home prices, sales fall further in January: Report

Hindustan Times  

China's sales of new housing and prices for existing residential units both continued to decline in January, a leading real estate research institute said on Saturday. The value of property sales by the top 100 real-estate developers in China was down almost 17% in January on year The average price per square meter for existing residential properties was down just …

China’s property sector retreats into state hands
2 months ago

China’s property sector retreats into state hands

Live Mint  

More than three years into China’s housing crisis, there is still no sign of its ending. The latest private builder to run into a liquidity crisis is China Vanke, one of the country’s largest remaining developers. Representatives from the state-owned subway operator for the wealthy southern city of Shenzhen now make up nearly half of Vanke’s senior management. In China’s …

China's real estate tax cuts yield $1.6b in first month
2 months ago

China's real estate tax cuts yield $1.6b in first month

China Daily  

Prospective homebuyers look at a property model at a sales office in Beijing. BEIJING -- China's new tax policies aimed at stabilizing the real estate market have resulted in 11.69 billion yuan in tax reductions and exemptions in their first month of implementation, according to data released Saturday by the State Taxation Administration. The tax measures, which took effect on …

China's property sales record positive growth in December
2 months, 2 weeks ago

China's property sales record positive growth in December

China Daily  

A view of a property project under construction in Yantai, Shandong province, May 12, 2024. In December, the month-on-month sales prices of commercial residential properties in China's first-tier cities rose, while the overall decline in second and third-tier cities narrowed, data collected from 70 large and medium-sized cities by the National Bureau of Statistics showed on Friday. Prices of second-hand …

How Beijing is seeking to jump-start wavering economy
2 months, 2 weeks ago

How Beijing is seeking to jump-start wavering economy

The Hindu  

As China's economy struggles, officials in Beijing have the arduous task of formulating a policy response that can ensure sustainable growth in what promises to be a challenging year ahead. Rate cuts China's central bank cut two key interest rates to historic lows in October, just days after the country posted its lowest quarterly growth in 18 months. Beijing in …

Falling rents in China expose its crippled real estate sector and a deeper economic flaw
3 months ago

Falling rents in China expose its crippled real estate sector and a deeper economic flaw

Firstpost  

The sharp drop in rents across China’s cities shows a huge oversupply of homes exposing serious problems in the country’s real estate market and the economy China’s urban rental market is facing a major slump exposing weaknesses in the country’s housing and economic systems. In 100 major cities, average rents have hit their lowest level in four years showing a …

China Property Flare-Ups Resurface as Crisis Enters Fifth Year
3 months, 1 week ago

China Property Flare-Ups Resurface as Crisis Enters Fifth Year

Live Mint  

One of China’s leading developers is now on authorities’ radar for default risk. As China’s property debt crisis enters its fifth year, there’s little indication that distressed developers are finding it easier to repay debt as a slump in home sales continues. “Against this backdrop, we can’t rule out the possibility of some more defaults next year, albeit the overall …

China retail sales slow as consumers hold back, while home prices fall
3 months, 2 weeks ago

China retail sales slow as consumers hold back, while home prices fall

Associated Press  

BANGKOK — Chinese retail sales slowed in November and housing prices fell, the government said Monday, with demand still lackluster despite a flurry of stimulus measures over the past few months. “However, we must Retail sales rose 3% from a year earlier, down from October’s 4.8% increase and below the 3.5% annual rate in January-November. “China’s economy appears to have …

China’s property slump may extend into 2025, Fitch Ratings says
4 months ago

China’s property slump may extend into 2025, Fitch Ratings says

Hindustan Times  

-- China’s multiyear property crisis is set to drag on in 2025 as prices and sales remain weak despite the government’s stimulus push to spur demand, according to Fitch Ratings. China’s property slump may extend into 2025, Fitch Ratings says China’s new home prices will fall by another 5% next year, as measured by China’s official statistics bureau, or roughly …

After $1.4 trillion package, China to cut homebuying taxes to revive ailing economy
4 months, 2 weeks ago

After $1.4 trillion package, China to cut homebuying taxes to revive ailing economy

Firstpost  

In the latest step to support ailing economy, China is expected to cut taxes for buying homes, according to Bloomberg In the latest step to support its ailing economy, China is expected to cut homebuying taxes, according to Bloomberg. The decision to cut homebuying taxes would come days after the announcement of a $1.4 trillion package to bail out local …

China’s 10-year bond yields drop amid $1.4 billion debt refinancing program, more stimulus awaited
4 months, 3 weeks ago

China’s 10-year bond yields drop amid $1.4 billion debt refinancing program, more stimulus awaited

Live Mint  

Yield for China's benchmark 10-year bonds have slid to their lowest in over a month after the government announced its 10 trillion yuan or $1.4 billion worth debt refinancing programme, Bloomberg reported. China's Debt Refinancing Programme — The Details The announcement was made after the National People’s Congress Standing Committee meeting on November 8, to “underwhelmed” reactions, as per the …

China Housing Market Shows Signs of Recovery: First Positive Growth in 15 Months
4 months, 4 weeks ago

China Housing Market Shows Signs of Recovery: First Positive Growth in 15 Months

China Daily  

China's new and secondhand home transactions show signs of recovery, marking the first positive growth in 15 months. The combined transaction volumes of new and secondhand homes increased by 3.9 percent year-on-year in October, indicating a significant turnaround following eight months of consistent decreases since February. The real estate market in major cities may experience a 'mild winter' this year, …

China Residential Property Sales Rebound as Stimulus Boosts Buyer Morale
4 months, 4 weeks ago

China Residential Property Sales Rebound as Stimulus Boosts Buyer Morale

Live Mint  

China's residential property sales rose in October, marking the first on-year increase since 2024. The value of new-home sales increased by 7.1%, reversing a 37.7% slump in September. The improvement was driven by stimulus measures that eased borrowing costs and relaxed buying restrictions in major cities. However, analysts remain concerned about the sector's decline and the need for further policy …

China unveils new measures to stabilize housing market
5 months, 1 week ago

China unveils new measures to stabilize housing market

China Daily  

A property project under construction in Beijing. BEIJING -- Chinese officials announced new measures on Thursday to cement signs of stabilization in the property sector, after a bundle of pro-housing policies rolled out last month brought about "positive changes in the market." Under the "white list" mechanism launched in January, local authorities are recommending that financial institutions provide financial support …

China Home Sales Slump Intensified in September, Before Stimulus
6 months ago

China Home Sales Slump Intensified in September, Before Stimulus

Live Mint  

China’s residential slump deepened in September before the government released a basket of measures to put a floor under the yearslong property crisis. The value of new-home sales from the 100 biggest real estate companies fell about 37.7% from a year earlier to 251.7 billion yuan, faster than the 26.8% decline in August, according to preliminary data from China Real …

China's economy softens in August as Beijing continues to grapple with lagging demand
6 months, 2 weeks ago

China's economy softens in August as Beijing continues to grapple with lagging demand

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy China’s economy softened in August, …

China's industrial output, retail sales continue to rise in August
6 months, 2 weeks ago

China's industrial output, retail sales continue to rise in August

China Daily  

China reported key economic figures on Saturday showing slower growth on industrial production, consumer spending, and investments, which called for greater policy support to consolidate the country's economic recovery. Figures released on Saturday by the National Bureau of Statistics showed China's value-added industrial output, a gauge of activity in the manufacturing, mining, and utilities sectors, grew by 4.5 percent in …

China's industrial output, retail sales continue to rise in August
6 months, 2 weeks ago

China's industrial output, retail sales continue to rise in August

China Daily  

China reported key economic figures on Saturday showing slower growth on industrial production, consumer spending, and investments, which called for greater policy support to consolidate the country's economic recovery. Figures released on Saturday by the National Bureau of Statistics showed China's value-added industrial output, a gauge of activity in the manufacturing, mining, and utilities sectors, grew by 4.5 percent in …

China's industrial output, retail sales continue to rise in August
6 months, 2 weeks ago

China's industrial output, retail sales continue to rise in August

China Daily  

China reported key economic figures on Saturday showing slower growth on industrial production, consumer spending, and investments, which called for greater policy support to consolidate the country's economic recovery. Figures released on Saturday by the National Bureau of Statistics showed China's value-added industrial output, a gauge of activity in the manufacturing, mining, and utilities sectors, grew by 4.5 percent in …

Housing market hopeful of mortgage rate cuts
6 months, 2 weeks ago

Housing market hopeful of mortgage rate cuts

China Daily  

A bank employee addresses customer queries on home loans in Haian, Jiangsu province, in July. XU JINGBAI/FOR CHINA DAILY China's housing market expectations for a further decline in existing mortgage rates have turned stronger, real estate industry observers said on Wednesday. Zou Lan, head of the monetary policy department of the People's Bank of China, said during a news conference …

China's banking sector assets growing steadily: regulator
7 months, 1 week ago

China's banking sector assets growing steadily: regulator

China Daily  

Chinese 100 yuan banknotes are seen in a counting machine at a bank in Beijing. BEIJING - China's banks have seen steady asset expansion since the start of the year, an official with the country's financial regulator said on Wednesday. The assets of financial institutions in China's banking sector grew 7 percent year-on-year to 423.8 trillion yuan at the end …

Unemployment In China Rises For First Time In 5 Months In July, Economy Sees Slump In Recovery
7 months, 2 weeks ago

Unemployment In China Rises For First Time In 5 Months In July, Economy Sees Slump In Recovery

ABP News  

The Chinese economy maintained a slow pace of growth as the property crisis in the country continued and hampered any recovery in the economy. Official data released by The National Bureau of Statistics on Thursday showed that unemployment climbed for the first time since February to 5.2 per cent, as compared to 5 per cent clocked a month earlier. The …

China's property market shows signs of warming despite price drop
7 months, 2 weeks ago

China's property market shows signs of warming despite price drop

China Daily  

A realty agent introduces a residential property model to a potential homebuyer in Hai'an, Jiangsu province. XU JINBAI/FOR CHINA DAILY BEIJING - Major Chinese cities saw home prices fall in July compared to the previous month, though the declines continued to narrow, aided by favorable policies, according to data from the National Bureau of Statistics released on Thursday. While those …

First-half figures offer solid base for whole-year growth
8 months, 2 weeks ago

First-half figures offer solid base for whole-year growth

China Daily  

Visitors throng a beach in Dalian, Liaoning province, on Sunday. China's economy grew by 5 percent in the first half of this year despite challenges such as still-weak demand and a complex external environment, providing a solid base for achieving the whole-year growth target, analysts said on Monday. Zhou Maohua, a researcher at China Everbright Bank, said, "The second-quarter growth …

China’s rich spend millions on Shanghai property; Luxury apartments worth $3.8 million five times oversubscribed
9 months ago

China’s rich spend millions on Shanghai property; Luxury apartments worth $3.8 million five times oversubscribed

Hindustan Times  

-- A $15 million penthouse was snapped up hours after it went on sale. Photographer: Raul Ariano/Bloomberg Shanghai’s luxury real estate market is a bright spot in China’s bleak property sector. The recent buyers still see luxury residences as an optimal choice, given Shanghai’s financial hub status, the scarcity of supply of such dwellings and the discount that new offerings …

China's financing activities remain steady
9 months, 2 weeks ago

China's financing activities remain steady

China Daily  

This undated file photo shows an exterior view of the People's Bank of China in Beijing, capital of China. China's financing activity remained lukewarm as the increment in aggregate social financing — the total amount of financing to the real economy — stood at 14.8 trillion yuan in the first five months of 2024, down by 2.52 trillion yuan compared …

China's commercial banks resilient against risks: regulator
9 months, 2 weeks ago

China's commercial banks resilient against risks: regulator

China Daily  

A cashier at a bank in Taiyuan, Shanxi province counts renminbi notes. BEIJING - The balance of loan loss provisions of China's commercial banks came in at 6.9 trillion yuan at the end of the first quarter of this year, data from the country's financial regulator showed. The figure increased by 269.8 billion yuan from the end of the previous …

China's commercial banks see stable credit asset quality
9 months, 4 weeks ago

China's commercial banks see stable credit asset quality

China Daily  

A Chinese clerk counts renminbi yuan banknotes in Nantong, East China's Jiangsu province. The non-performing loan balance of the commercial banks reached 3.4 trillion yuan at the end of March 2024, 141.4 billion yuan more than that at the end of December 2023, data from the National Financial Regulatory Administration revealed. The data confirmed that the country's commercial banks had …

China’s biggest cities continue to ease home-buying policies
10 months ago

China’s biggest cities continue to ease home-buying policies

Live Mint  

More of China’s biggest cities are easing home-buying policies, after top leaders recently signaled a shift to aggressive measures to resolve the country’s ongoing property crisis. “This policy easing reflect local governments’ echoing of central government and regulators’ rhetoric on May 17,” Morningstar analyst Jeff Zhang said, referring to a meeting of China’s top financial regulators that removed mortgage-rate floors …

China rolls out new measures to fix its property crisis, spur growth
10 months, 2 weeks ago

China rolls out new measures to fix its property crisis, spur growth

Associated Press  

China announced a slate of fresh measures Friday to reinvigorate its ailing property industry after the latest data showed housing prices have slumped nearly 10% since the start of the year. He Lifeng, a vice premier, said officials would roll out policies to suit each city and “fight the tough battle of dealing with the risk of unfinished commercial housing.” …

China’s economy grew 5.3% in first quarter, beating expectations, though weak spots remain
11 months, 2 weeks ago

China’s economy grew 5.3% in first quarter, beating expectations, though weak spots remain

Associated Press  

HONG KONG — China’s economy grew faster than expected in the first quarter of the year with help from policies and stronger demand, though signs of weakness in the troubled housing market persisted. China’s economy has struggled to bounce back from the COVID-19 pandemic but gained momentum late last year as government policies to help the housing market and boost …

China’s private builders face $553 billion gap to complete homes
11 months, 2 weeks ago

China’s private builders face $553 billion gap to complete homes

Hindustan Times  

-- Chinese private developers face a $553 billion funding gap to complete pre-sold homes, adding to the woes of an industry that has yet to bottom out, according to a research report by Goldman Sachs Group Inc. Chinese private developers face a $553 billion funding gap to complete pre-sold homes Credit support from banks — which totaled 469 billion yuan …

China shows signs of slowdown to aggregate social financing
11 months, 2 weeks ago

China shows signs of slowdown to aggregate social financing

China Daily  

A pedestrian walks past the headquarters of the PBOC in Beijing. JIANG QIMING/CHINA NEWS SERVICE China's financing activity showed signs of slowing down as the increment in aggregate social financing — the total amount of financing to the real economy — reached 12.93 trillion yuan in the first quarter of 2024, down by 1.61 trillion yuan compared with the same …

Govt policies to aid banking sector, BOC says
11 months, 4 weeks ago

Govt policies to aid banking sector, BOC says

China Daily  

A view of the booth of Bank of China during an expo in Fuzhou, Fujian province. CHEN BIN/FOR CHINA DAILY The central government's supportive policies are expected to gradually improve business sentiment, boosting domestic demand and laying a solid foundation for the steady development of the banking industry, Bank of China said. The bank's operating income reached 624.14 billion yuan …

China’s economy shows signs of improvement, but its property sector is still in the doldrums
1 year ago

China’s economy shows signs of improvement, but its property sector is still in the doldrums

Associated Press  

HONG KONG — China’s manufacturing and investment improved in the first two months of the year, while weakness in the property sector weighed on the economy, the National Bureau of Statistics said Monday. The property market is “still in a state of adjustment and transition” but policies outlined at China’s annual legislative session earlier this month will promote “stable and …

China economy: All-important property market shows no sign of rebound in new year
1 year ago

China economy: All-important property market shows no sign of rebound in new year

CNN  

Editor’s Note: Sign up for CNN’s Meanwhile in China newsletter which explores what you need to know about the country’s rise and how it impacts the world. Hong Kong CNN — China’s key real estate sector hasn’t shown much improvement following a flurry of government measures taken to boost the industry, even as other parts of the economy seem to …

China cuts mortgage reference rate more than expected to revive property market
1 year, 1 month ago

China cuts mortgage reference rate more than expected to revive property market

Hindustan Times  

SHANGHAI/SINGAPORE, Feb 20 - China cut the benchmark reference rate for mortgages at a monthly fixing on Tuesday by more than expected, as authorities ramped up efforts to stimulate credit demand and revive the property market. China cut the benchmark reference rate for mortgages at a monthly fixing on Tuesday as authorities ramped up efforts to stimulate credit demand and …

China's financing activity expands steadily
1 year, 2 months ago

China's financing activity expands steadily

China Daily  

China's financing activity expanded steadily in 2023 as official data showed the country's outstanding aggregate social financing — the total amount of financing to the real economy — came in at 378.09 trillion yuan as of the end of 2023, up 9.5 percent year-on-year. The increment in aggregate social financing reached 35.59 trillion yuan last year, up by 3.41 trillion …

China’s economy is forecast to slow sharply in 2024, the World Bank says, calling recovery ‘fragile’
1 year, 3 months ago

China’s economy is forecast to slow sharply in 2024, the World Bank says, calling recovery ‘fragile’

Associated Press  

HONG KONG — China’s economy grew at a 5.2% pace in the first three quarters of the year and showed signs of improvement in November, with factory output and retail sales rising, the government said Friday. “To further promote economic recovery, we need to overcome some difficulties and challenges.” China’s economy has the advantages of a vast market of 1.4 …

China’s economy shows sparks of life, despite persisting weakness in troubled real estate sector
1 year, 4 months ago

China’s economy shows sparks of life, despite persisting weakness in troubled real estate sector

Associated Press  

BEIJING — China’s economy showed more signs of reviving in October as retail sales and manufacturing picked up though the property sector remained sluggish, the government said Wednesday. Disruptions to manufacturing, transport, travel and virtually every other aspect of life during the pandemic ended nearly a year ago when China’s leaders abandoned their “zero-COVID” policies aimed at preventing infections. Overall, …

Fine-tuned policies spark realty recovery
1 year, 5 months ago

Fine-tuned policies spark realty recovery

China Daily  

Potential homebuyers look at a property model in Taiyuan, Shanxi province. China's housing market led by first-tier cities is showing signs of regaining stability on the back of recent supportive measures, indicating the current downturn in home prices might have been checked for now, paving the way for a mild recovery, industry experts said on Thursday after reviewing the latest …

China's GDP expected to grow at around 4% in Q3
1 year, 5 months ago

China's GDP expected to grow at around 4% in Q3

China Daily  

A view of Beijing's CBD area. The country's industrial production sentiment has improved, and industrial production is expected to increase by 4.3 percent in September, said Zhang Wenlang, chief macroeconomic analyst with investment bank China International Capital Corp. In terms of consumption, the growth rate of total retail sales of consumer goods is expected to rebound to about 5.5 percent …

Does China’s Property Bust Make a Financial Crisis Inevitable?
1 year, 5 months ago

Does China’s Property Bust Make a Financial Crisis Inevitable?

Live Mint  

When property markets go bust, banks often follow—most famously in the U.S. in 2008. Moreover, widespread financial turbulence can’t be ruled out—especially if housing and land prices fall too fast—or if Beijing doesn’t do more to support cash-strapped local governments and small lenders. Indirect exposure Unfortunately, banks’ seemingly manageable direct exposure to property is deceptive because of the housing market’s …

China’s economic growth target of 5% for 2023 at risk due to property crisis
1 year, 6 months ago

China’s economic growth target of 5% for 2023 at risk due to property crisis

Live Mint  

China will just about meet its economic growth target of around 5% for this year, the latest Bloomberg survey shows, although the ongoing property crisis is raising the risk of a miss. “The real estate sector will continue to be under mounting pressure” despite recent government efforts to support property, said analysts at Poseidon Partner, a Hong Kong-based investment firm. …

Intensified govt policy support set to boost economic growth in Q4
1 year, 6 months ago

Intensified govt policy support set to boost economic growth in Q4

China Daily  

SONG CHEN/CHINA DAILY China's credit is expanding again. China's policy support has gone through two stages after the Political Bureau of the Communist Party of China Central Committee changed its assessment of the economy. On Aug 31, the People's Bank of China, the country's central bank, and the National Administration of Financial Regulation jointly issued a series of easing measures …

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