China's property meltdown is gathering pace — and it's bad news for Australia
1 year, 5 months ago

China's property meltdown is gathering pace — and it's bad news for Australia

ABC  

It is crunch time for Xi Jinping. ANZ's senior China economist Betty Wang reckons this is the longest downtrend ever in China's property sector and it persists despite significant government support rolled out in the aftermath of the Evergrande crisis. "In the current cycle, the government has announced several rounds of support measures for the sector since November 2021 following Evergrande's debt crisis, and it's been nearly two years since then." China's economy misses growth forecasts, signalling slow recovery Photo shows a group of people walking in a busy city centre The world's second largest economy grew at a 6.3 per cent annual pace in the April-June quarter, much slower than forecast. Rio Tinto's chairman Dominic Barton went one further a few weeks back on the thorny subject of China's economy, which was unusual given Chinalco, a Chinese state-owned corporation, is Rio's biggest shareholder.

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History of this topic

China Property Flare-Ups Resurface as Crisis Enters Fifth Year
3 days, 7 hours 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 …

November blues: Retail slump, property woes show China’s economy not responding to Xi’s push
1 week, 1 day ago

November blues: Retail slump, property woes show China’s economy not responding to Xi’s push

Firstpost  

China’s economy in November has sparked concerns about its ability to boost domestic demand in a world full of uncertainties. Reports from the South China Morning Post and The Economic Times highlight mixed results in key areas like retail sales, property investments and industrial output. The South China Morning Post noted that while November’s retail figures seemed weak, combining data …

China has been plunged into a major financial crisis - this is how it could damage the investments in YOUR pension or Isa: JOHN-PAUL FORD ROJAS
1 month, 3 weeks ago

China has been plunged into a major financial crisis - this is how it could damage the investments in YOUR pension or Isa: JOHN-PAUL FORD ROJAS

Daily Mail  

China is in a major economic crisis - perhaps the most serious since it set out on its dizzying trajectory of economic growth more than four decades ago. The People's Bank of China is taking action against a screeching slowdown in economic growth by cutting interest rates and offering more support to banks and the housing sector 'It is fair …

Here’s How Bad China’s Economy Really Is. Can It Be Fixed?
2 months, 1 week ago

Here’s How Bad China’s Economy Really Is. Can It Be Fixed?

Bloomberg  

China’s economic growth target of 5% this year is looking ambitious, given sluggish consumer spending, an uncertain outlook for the country’s exports and a still shaky property market. Fewer than a fifth of economists surveyed by Bloomberg Terminal Bloomberg were predicting gross domestic product would expand by 5% in 2024, as analysts at lenders such as Bank of America Corp. …

Economists sceptical about China's rate cuts, new stimulus measures
3 months ago

Economists sceptical about China's rate cuts, new stimulus measures

ABC  

China has announced a raft of measures aimed at countering a prolonged downturn in its property market that is heavily weighing on the world's second largest economy. Dr Shi said it was "very likely" that China would fail to meet its yearly GDP growth target of roughly 5 per cent. The central government was even encouraging local governments to invest …

Country Garden sales drop 72% as China’s housing woes persist
4 months, 2 weeks ago

Country Garden sales drop 72% as China’s housing woes persist

Hindustan Times  

-- Country Garden Holdings Co.’s sales slump dragged on last month, adding to the Chinese developer’s woes as it tries to avoid liquidation. Country Garden Holdings Co.’s sales slump dragged on last month, adding to the Chinese developer’s woes as it tries to avoid liquidation Contracted sales for July dropped 72% from a year earlier to 3.41 billion yuan, following …

China’s leaders vow to fight ‘risks’ plaguing economy
5 months ago

China’s leaders vow to fight ‘risks’ plaguing economy

The Hindu  

Beijing's leaders vowed on July 18 to resolve "risks" plaguing China's economy, but were yet to offer any concrete steps to pull the country out of its financial woes. ‘Market failures’ But Hoo Tiang Boon at Nanyang Technological University in Singapore told AFP the statement "acknowledges certain risks and obstacles to the Chinese economy". With the country facing those headwinds, …

The Aussie suburbs Chinese property buyers can't get enough of - as real estate expert reveals why more are heading Down Under
5 months, 3 weeks ago

The Aussie suburbs Chinese property buyers can't get enough of - as real estate expert reveals why more are heading Down Under

Daily Mail  

Australia has seen a surge in foreign investors snapping up homes across the country - and one expert has lifted the lid on why buyers from China want to live Down Under. New data revealed foreign investors bought 5,360 residential properties totalling a whopping $4.9billion in value Mr Ho said investors wanted homes 'convenient for their lives', with Sydney being …

China unveils 'historic' steps to stabilise crisis-hit real estate sector
7 months, 1 week ago

China unveils 'historic' steps to stabilise crisis-hit real estate sector

Hindustan Times  

China on Friday announced "historic" steps to stabilise the crisis-hit property sector, allowing local governments to buy "some" apartments, relaxing mortgage rules and pledging to deliver unfinished homes. China Real Estate Newspaper, a publication managed by the housing ministry, said the "heavyweight policies" marked "a significant historic moment" for the property sector. After waves of support measures over the past …

China rolls out new measures to fix its property crisis, spur growth
7 months, 1 week 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 shows signs of improvement, but its property sector is still in the doldrums
9 months, 1 week 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's economy is unravelling at a pace previously thought unimaginable. Where does that leave Australia?
9 months, 4 weeks ago

China's economy is unravelling at a pace previously thought unimaginable. Where does that leave Australia?

ABC  

Nothing quite focuses the mind like a military build-up on your back door. Last October, the Reserve Bank of Australia put together a paper outlining the potential threats to global growth, and particularly Australia, from the ongoing meltdown in China's property market. Japan, Wall Street and Indian markets have been on a tear since early last year, while China's three …

Order to liquidate property giant China Evergrande is just one step in fixing China’s debt crisis
10 months, 3 weeks ago

Order to liquidate property giant China Evergrande is just one step in fixing China’s debt crisis

Associated Press  

BANGKOK — A Hong Kong court’s order to liquidate China Evergrande, the world’s most heavily indebted real estate developer, is only a tentative step toward resolving a debt crisis that is haunting financial markets and dragging on the Chinese economy. The order by the Hong Kong High Court also is not a remedy for the crisis of confidence haunting China’s …

Desperate Chinese property developers resort to bizarre marketing tactics
11 months ago

Desperate Chinese property developers resort to bizarre marketing tactics

Live Mint  

China’s real-estate crisis has dragged down the economy, caused massive layoffs and pushed multibillion-dollar companies to the point of collapse. A property company in Tianjin ran a video A residential compound in eastern China’s Zhejiang province promised last year to give home buyers a 10-gram gold bar. Earlier this month, Sheng Songcheng, former head of the statistics department at the …

How a 'sharp deterioration' in China's property market and potential collapse of Evergrande could affect Australia's economy
1 year, 2 months ago

How a 'sharp deterioration' in China's property market and potential collapse of Evergrande could affect Australia's economy

ABC  

China's property market is facing a "sharp deterioration" which could lead to financial stress domestically, and ultimately affect its trade with Australia. Key points: Evergrande is facing liquidation proceedings on October 30 Police have detained its chairman and founder Hui Ka Yan The company has been blocked from raising new debt to fund its survival That is one of the …

China stock investors say worst yet to come in property crisis
1 year, 2 months ago

China stock investors say worst yet to come in property crisis

Live Mint  

China’s property sector has yet to see the worst of the crisis that has cast a pall over the nation’s economy and helped drive an exodus of global funds from the world’s second-largest stock market. That’s the view from nine of 15 respondents in an informal Bloomberg News survey of analysts and money managers based in Hong Kong and mainland …

The city that encapsulates China’s economic stagnation
1 year, 2 months ago

The city that encapsulates China’s economic stagnation

Hindustan Times  

On a Typical evening Zhengzhou’s manufacturing district should be teeming with workers heading back to their dormitories. The city’s difficulties—including a lack of work, falling property prices and banking instability—are acute examples of those facing China at large. And even if the situation has begun to stabilise, Zhengzhou’s experience shows how hard it will be for China to truly escape …

China’s economic growth target of 5% for 2023 at risk due to property crisis
1 year, 2 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. …

China's miracle economy is grinding to a halt, and the consequences are already affecting the rest of the world
1 year, 4 months ago

China's miracle economy is grinding to a halt, and the consequences are already affecting the rest of the world

ABC  

Its military satellites crisscross the continent, keeping a watchful eye on army exercises with our allies. China's economy is in serious trouble Photo shows a man in a simple black jacket sits behind microphones China's economy is in serious trouble. The Japan example If President Xi Jinping wanted a glimpse of his country's economic future, he need only gaze across …

Explained: Why China's economic meltdown is making the world nervous
1 year, 4 months ago

Explained: Why China's economic meltdown is making the world nervous

India Today  

China, the world's second-largest economy, is going through a tough time. For starters, China is a dominant global player across most global sectors, with the International Monetary Fund's latest World Economic Outlook predicting the country to contribute over 22 per cent of the global gross domestic product. Therefore, a decline in China's economic activity can severely throw off the global …

China's property sales static despite policies to stimulate market: Report
1 year, 10 months ago

China's property sales static despite policies to stimulate market: Report

Hindustan Times  

China's property sales remain static despite China's central bank enacting policies to stimulate the market, New York-based NTD reported. According to China Real Estate Information Corporation, there is a consensus that the real estate sector is on a downward spiral and is truly heading for an era of negative growth. According to statistics from the China Index Academy on January …

Can China fix its property crisis?
1 year, 11 months ago

Can China fix its property crisis?

Live Mint  

To judge by the high-rises dotted along the shore in Haiyang, a small coastal city, Country Garden’s prospects are pretty meagre. The volume of floor space sold across the country fell by 24% in 2022, the biggest slump since data became available in 1992; property investment was down 10% year on year, the first drop on record. This is a …

Why China's easing of Covid restrictions will boost foreign demand for Australian property
1 year, 11 months ago

Why China's easing of Covid restrictions will boost foreign demand for Australian property

Daily Mail  

China's easing of the world's toughest Covid restrictions could boost foreign demand for Australian property, a real estate group predicts. Kashif Ansari, a co-founder and group chief executive of real estate marketing group Juwai IQI, said the return of Chinese visitors to Australia would also boost demand for Australian property. Kashif Ansari, a co-founder and group chief executive of real …

Explained | How bad is China’s property crisis and how did it get here?
2 years, 3 months ago

Explained | How bad is China’s property crisis and how did it get here?

The Hindu  

The story so far: China, the world’s second-largest economy, is facing a crisis in its once-booming property sector. Meanwhile, July data from China’s National Bureau of Statistics showed that property investment fell in the country by over 12 per cent year-on-year, the steepest fall this year, per a Reuters report. Read also: China property crisis is spiralling with homebuyers’ boycott …

As China’s property crisis grows, is the global economy at risk?
2 years, 3 months ago

As China’s property crisis grows, is the global economy at risk?

Al Jazeera  

China’s house prices are falling as Beijing reins in sector, raising fears for economic growth at home and globally. With property accounting for 15-30 percent of China’s gross domestic product, the market’s woes spell trouble for the world’s second-largest economy – and potentially global growth as well. China’s property woes pose a substantial risk to its economy, which is already …

Pinched by housing downturn, Chinese families rein in spending
2 years, 3 months ago

Pinched by housing downturn, Chinese families rein in spending

Live Mint  

A two-decade boom in real estate made many Chinese families feel richer. “If more people suffer from income loss, the foundation that supports the bubble in the property market will be shaken," said 39-year old Ms. Tang, who works in the finance industry. As fears of declining home values deepen, more people will re-evaluate their spending and investment decisions, said …

Explained: How will China’s property crisis impact its economy?
2 years, 4 months ago

Explained: How will China’s property crisis impact its economy?

Firstpost  

The recent spate of mortgage strikes by homebuyers across China has exposed the risk that has accumulated in the market as it has developed over the past two decades China has been trimming interest rates recently – in contrast to other major economies – as it tries to stem the economic effects of its zero-Covid policy and address a growing …

The Chinese dream of homeownership is crumbling. The economy could go with it
2 years, 4 months ago

The Chinese dream of homeownership is crumbling. The economy could go with it

LA Times  

Last November, hundreds of angry homeowners in Nanchang, the capital of China’s Jiangxi province, gathered on the roof of an unfinished apartment building. And in China, unfortunately, the property sector is huge.” An exacerbated slowdown in China, a major commodities consumer and the world’s second-largest economy, would also have pronounced impact on the global financial system in its fragile state. …

China's economy faces multiple challenges but what might those pressures mean for Australia?
2 years, 5 months ago

China's economy faces multiple challenges but what might those pressures mean for Australia?

ABC  

Mr Zhao deposited his life savings into a bank in central China, but now can't access any of it. Key points: China's economy is under stress from banking sector issues and a property market decline The nation has also recorded its lowest quarterly growth rate since the 1990s Business leaders have differing views on how China's woes could impact Australia's …

China's next big worry: A mortgage crisis knocking on its doors
2 years, 5 months ago

China's next big worry: A mortgage crisis knocking on its doors

India Today  

China's property sector is causing worry in economic circles as homebuyers of around 100 projects across 50 cities have decided to stop paying mortgages for unfinished homes after prolonged construction suspension. In China, where property has been a key driver of growth for years, ever-rising home prices, surging household debt, and the real estate sector broadly contribute to around one-third …

Economic figures suggest China's economy is beginning to slow down. What could this mean for Australia?
2 years, 8 months ago

Economic figures suggest China's economy is beginning to slow down. What could this mean for Australia?

ABC  

At least the air quality has improved. COVID lockdowns in China may soon add to the supply disruptions from Russia's war in Ukraine, pushing central banks to raise interest rates faster at the risk of plunging parts of the world back into recession. For an already weakened economy, the lockdowns have shut factories and created chaos among logistics operators as …

China pumps $188 billion into the economy to counter real estate slump
3 years ago

China pumps $188 billion into the economy to counter real estate slump

CNN  

Hong Kong CNN Business — China has decided it’s time to loosen its purse strings and pump money into the economy in a bid to stave off threats to the recovery. The decision — the second cut to that ratio this year — came on the same day China’s Politburo signaled that it may take more aggressive actions to protect …

Explained: Why China's property crash isn't a Lehman Brothers moment
3 years, 1 month ago

Explained: Why China's property crash isn't a Lehman Brothers moment

The Hindu  

Any story you tell about China, with its population of 1.4 billion and an economy that has more than doubled over the last decade, will always involve big numbers ― scary numbers. New home sales plummet by a third With property being a key driver of economic growth ― contributing about 29 per cent to China's gross domestic product ― …

China property sector woes could spell trouble for global cities
3 years, 1 month ago

China property sector woes could spell trouble for global cities

Al Jazeera  

Many Chinese developers who went on a spending spree to pick up projects across the world are now facing a cash crunch. China’s property sector woes could spell trouble for prestige megaprojects in London, New York, Sydney and other top cities as the developers behind them scramble for cash. “R&F’s capacity to handle its near-term debt maturities will hinge on …

China Q3 GDP: China’s economy is getting walloped by crises in energy, shipping and real estate
3 years, 2 months ago

China Q3 GDP: China’s economy is getting walloped by crises in energy, shipping and real estate

CNN  

Hong Kong CNN Business — China’s GDP is growing at the slowest pace in a year as a massive energy crunch, shipping disruptions and a deepening property crisis take their toll on the world’s second largest economy. “The challenges of keeping the economy running smoothly have increased,” said Fu Linghui, spokesperson for China’s National Bureau of Statistics, at a press …

Evergrande crisis shines a light on China’s millions of empty homes
3 years, 2 months ago

Evergrande crisis shines a light on China’s millions of empty homes

CNN  

Evergrande’s unraveling is still commanding global attention, but its troubles are part of a much bigger problem. The People’s Bank of China said the company had mismanaged its business but risks to the financial system were “controllable.” “In recent years, the company has failed to manage its business well and to operate in accordance with market changes,” Zou Lan, director …

Is this the Schadenfreude moment for China sceptics?
3 years, 2 months ago

Is this the Schadenfreude moment for China sceptics?

Live Mint  

The woes of Chinese property development firm, Evergrande, heavily indebted to both domestic and foreign lenders and on the verge of collapse, has engendered a Schadenfreude moment amongst China sceptics: but is it premature? After the crisis broke out, some proclaimed that the imminent failure of Evergrande might just be China’s “Lehman moment”, referring to the 2008 bankruptcy of the …

Evergrande's collapse could be very bad news for Australia and the world. Here's why
3 years, 3 months ago

Evergrande's collapse could be very bad news for Australia and the world. Here's why

ABC  

For the first time since the collapse of Lehman Brothers in late 2008, there is a serious risk of global financial contagion. Evergrande is China's second biggest property developer, the world's most indebted, and it's in severe financial distress. To the relief of financial markets Evergrande Group's onshore property unit, Hengda Real Estate, says it will make a 232 million …

China's property bubble may be about to burst, and it could cost Australia dearly
3 years, 3 months ago

China's property bubble may be about to burst, and it could cost Australia dearly

ABC  

It's one of Hemingway's best lines, from The Sun Also Rises. At its peak, three years ago, the Hong Kong-listed China Evergrande was the world's most valuable real estate group. Late last year Beijing introduced what it called the Three Red Lines policy for property developers, a strategy that aimed to reduce debt within the industry, curb runaway property prices …

Chinese foreign investors have cooled on Australian properties, but overseas buyers are tipped to return
3 years, 5 months ago

Chinese foreign investors have cooled on Australian properties, but overseas buyers are tipped to return

ABC  

Chinese foreign investors who abandoned the Australian property market last financial year could soon return, according to real estate agents and analysts who say enquiries and sales are on the rise. Top five countries investing in Australian real estate in 2019-2020 United States: $13.1 billion Singapore: $9.5 billion China: $7.1 billion Germany: $3.7 billion Canada: $3.3 billion "When borders open, …

Cashed-up Chinese buyers swarm Australia's housing market with buyers rocketing by 50 per cent
3 years, 6 months ago

Cashed-up Chinese buyers swarm Australia's housing market with buyers rocketing by 50 per cent

Daily Mail  

Cashed-up Chinese buyers are returning to drive Australia's housing prices up with an influx of enquiries for property coming from the Asian superpower. Interest in real estate from China has skyrocketed by 51 per cent over the past year, according to a study by Chinese investment website Juwai - identifying Melbourne as the best market for buyers. Juwai lists Melbourne, …

Australia-China Relations: The Great Debate
3 years, 8 months ago

Australia-China Relations: The Great Debate

The Diplomat  

The coronavirus pandemic of 2020 gave new meaning to the term annus horribilis, resulting in millions of deaths, countless suffering, endless lockdowns, and socioeconomic crises the world over. As the year progressed, Australia-China relations plummeted to new lows, making the “deep freeze” of recent years seem almost balmy. A significant trigger was Canberra’s push for an independent inquiry into the …

Chinese investment in Australia nosedives amid growing tension between two countries
4 years, 3 months ago

Chinese investment in Australia nosedives amid growing tension between two countries

ABC  

New figures show Chinese investment in Australia is continuing to plummet as distrust between the two countries grows and companies from the mainland turn towards emerging markets. Key points: Investors laid out $2.5 billion dollars in 2019, roughly half of what they spent in 2018 An ANU professor says investors are viewing Australia as a more difficult place to invest …

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