Real estate gave better returns in 10 years than other sectors
9 years ago

Real estate gave better returns in 10 years than other sectors

China Daily  

A garbage collector rides his tricycle as he looks for recyclable items on the streets of Beijing May 26, 2014. Real estate has been more profitable than other investments, such as stocks, over the past decade as housing prices in metropolises soared, according to a new survey. The housing prices of Beijing rose from an average of 7,300 yuan per square meter to 35,000 yuan over the past decade, and prices in Shanghai rose from an average of 7,000 yuan per square meter to 39,000 yuan. During the same period, China's benchmark Shanghai Composite Index increased from 1,160 to around 2,900, and the yearly per capita expenditure of Chinese residents rose from 6,400 yuan to 17,800 yuan, an increase of less than three times, according to the survey conducted by China Central Television along with National Bureau of Statistics and China Post Group Corporation. In terms of household spending in the past decade, nearly one third of Chinese families' money went into savings, followed by residential property and insurance, and only five percent were spent on securities investment.

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History of this topic

Localities given more powers to stabilize realty
3 weeks, 5 days ago

Localities given more powers to stabilize realty

China Daily  

Potential homebuyers look at a property model in Taiyuan, Shanxi province. "A mortgage rate cut could be a critical component of the government's broader strategy to arrest the ongoing downturn in the real estate market and guide it toward a sustainable recovery," said Wang Qing, chief macroeconomic analyst at Golden Credit Rating International. The current substantial land inventory and the …

Falling prices signal bigger troubles ahead for China’s economy
4 weeks 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 …

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 …

Chinese economy expected to rebound continuously in 2025: economist
Trending News
1 month, 3 weeks ago

Chinese economy expected to rebound continuously in 2025: economist

China Daily  

The skyline of Beijing. The Chinese economy is expected to rebound continuously in 2025 despite new variables, an economist said as reported by Chinese financial news outlet Yicai on Sunday. The unprecedented popularity of the domestic cultural and travel consumption market during the Spring Festival holiday and the emergence of DeepSeek AI model have contributed to people's confidence in the …

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

New urbanization a fresh growth impetus
2 months, 2 weeks ago

New urbanization a fresh growth impetus

China Daily  

MA XUEJING/CHINA DAILY As China's economy shifts from rapid growth to high-quality development, the policy of new urbanization has become key to unlocking domestic demand and promoting balanced regional development. The core of new urbanization rests on three key principles: people-centered urbanization, urban-rural coordination, and balanced regional development, as well as green and sustainable development. By promoting green building practices, …

New urbanization a fresh growth impetus
2 months, 2 weeks ago

New urbanization a fresh growth impetus

China Daily  

MA XUEJING/CHINA DAILY As China's economy shifts from rapid growth to high-quality development, the policy of new urbanization has become key to unlocking domestic demand and promoting balanced regional development. The core of new urbanization rests on three key principles: people-centered urbanization, urban-rural coordination, and balanced regional development, as well as green and sustainable development. By promoting green building practices, …

Property biz requires more policy moves
3 months ago

Property biz requires more policy moves

China Daily  

A view of a property project under construction in Yantai, Shandong province, in September. TANG KE/FOR CHINA DAILY China rolled out a number of policy measures in 2024 designed to reduce financial burdens and ease access for homebuyers, while also arresting the recent downturn in the country's real estate sector and guiding the industry toward a more sustainable development path, …

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 …

Govt wealth seen as key to boosting consumption
3 months, 2 weeks ago

Govt wealth seen as key to boosting consumption

China Daily  

China's ongoing efforts to boost consumption can be significantly enhanced if the government's substantial wealth and assets are mobilized to support household incomes and social welfare, leading economists said. Liu Shijin, former deputy director of the Development Research Center of the State Council and a prominent economist, said that a relatively high share of State-owned equity in social wealth could …

China Residential Property Sales Rebound as Stimulus Boosts Buyer Morale
5 months 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 …

Quzhou's GDP grows 6.3 percent in first three quarters
5 months, 1 week ago

Quzhou's GDP grows 6.3 percent in first three quarters

China Daily  

chinadaily.com.cn| Updated :2024-10-25 The Quzhou statistics bureau announced the city's economic performance in the first three quarters of the year on Oct 24. The city's GDP reached 160.54 billion yuan, marking a 6.3 percent increase year-on-year. Industrial production above designated size reported a 10 percent growth, reaching 47.61 billion yuan, while 22 out of 33 industrial categories experienced positive growth. …

Key Chinese cities adjust buying regulations to boost real estate market
5 months, 1 week ago

Key Chinese cities adjust buying regulations to boost real estate market

China Daily  

A saleswoman shows a model of a newly developed residential area to a potential homebuyer in Urumqi, the capital city of Xinjiang Uygur autonomous region. TIANJIN — North China's Tianjin municipality abolished restrictive measures on home buying on Wednesday, marking another major Chinese city to adjust housing purchase policies to stabilize the real estate market. Individuals who purchase commodity housing …

China Focus: China sees improving livelihood in 75 years
5 months, 3 weeks ago

China Focus: China sees improving livelihood in 75 years

China Daily  

A consumer shops at a supermarket in Shaoyang, Central China's Hunan province, April 11, 2024. The per capita disposable income of China's residents was only 49.7 yuan in 1949, but climbed to 39,218 yuan in 2023, an increase of 75.8 times, or an annual growth rate of 6 percent, adjusted for inflation, according to a report released by the National …

China's Per capita Living Standards Soar: A Journey of 75 Years
5 months, 3 weeks ago

China's Per capita Living Standards Soar: A Journey of 75 Years

China Daily  

China's living standards have significantly improved in the past 75 years, with per capita disposable income increasing from 49.7 yuan to 39,218 yuan. This growth has been driven by the development of the private economy and the expansion of the national economy. The Engel's coefficient, which measures food expenditures as a proportion of total household spending, has declined significantly, indicating …

Evolving housing needs unlock fresh prospects for China's property revival
7 months ago

Evolving housing needs unlock fresh prospects for China's property revival

China Daily  

Xinhua | Updated: 2024-08-30 13:42 Residential buildings pictured in Changsha, Central China's Hunan province on May 9, 2021. BEIJING -- As China's property market transitions to a new development stage, a fresh vision for homes centered on comfort, sustainability and cutting-edge design emerges, driven by consumer expectations and policy initiatives. In a recent press conference, Ni Hong, minister of housing …

Evolving housing needs unlock fresh prospects for China's property revival
7 months ago

Evolving housing needs unlock fresh prospects for China's property revival

China Daily  

Residential buildings pictured in Changsha, Central China's Hunan province on May 9, 2021. BEIJING -- As China's property market transitions to a new development stage, a fresh vision for homes centered on comfort, sustainability and cutting-edge design emerges, driven by consumer expectations and policy initiatives. In a recent press conference, Ni Hong, minister of housing and urban-rural development, highlighted good …

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 …

Economists advocate direct support to consumers
7 months, 2 weeks ago

Economists advocate direct support to consumers

China Daily  

By ZHOU LANXU and OUYANG SHIJIA | China Daily | Updated: 2024-08-13 09:25 Tourists visit a cultural block in Xiangyang, Hubei province, June 10, 2024. China's central government should consider additional direct support to consumers worth at least 1 trillion yuan — either cash or vouchers — in the rest of the year to effectively address the pressing challenge of …

To revive the economy, China wants consumers to buy better stuff
7 months, 4 weeks ago

To revive the economy, China wants consumers to buy better stuff

Live Mint  

Everywhere you look, the world’s politicians face tough economic choices. A survey by China’s central bank in April showed that over 60% of city-dwellers want to increase the amount in their savings accounts. America’s cash-for-clunkers programme, introduced in 2009 during the global financial crisis, prompted 360,000 extra car purchases in two months, according to Atif Mian of Princeton University and …

Where Does China’s Economic Policy Go From Here?
8 months ago

Where Does China’s Economic Policy Go From Here?

The Diplomat  

On April 30, China announced that it will host the third plenary session of the 20th Central Committee in July. The main theme will be “comprehensively deepening reform and advancing Chinese modernization.” This meeting of the top governing body of the Chinese Communist Party is important, because it provides a plan and the big economic picture for the duration of …

China’s rich spend millions on Shanghai property; Luxury apartments worth $3.8 million five times oversubscribed
9 months, 1 week 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 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 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 …

Desperate Chinese property developers resort to bizarre marketing tactics
1 year, 2 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 …

Chinese shudders: Fewer people is bad news
1 year, 2 months ago

Chinese shudders: Fewer people is bad news

Live Mint  

For an economy already caught in a slowdown, Wednesday’s release of China’s population data made it a double whammy. China’s covid toll was estimated at about 11.1 million last year and 10.4 million in 2022. It now faces an adverse demographic turn, with fewer people who can contribute to economic activity even as an elderly bulge adds to its welfare …

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, …

May not be a 'Chinese Century': How Xi Jinping's economic mismanagement can derail Beijing's big dreams
1 year, 6 months ago

May not be a 'Chinese Century': How Xi Jinping's economic mismanagement can derail Beijing's big dreams

Firstpost  

A slower China means less demand for commodities and imports and less geopolitically-driven Chinese investments and influence in places like Africa The at least $17.7 trillion Chinese economy has been facing a slowdown recently, which is hard to miss due to China’s global trade and investment connections. The IMF expects China’s economy to expand 5.2 per cent this year after …

Explained | On China’s economic slowdown
1 year, 6 months ago

Explained | On China’s economic slowdown

The Hindu  

The story so far: China, at the start of this month announced more measures to revive its flagging economy with major banks clearing the path for additional cuts in lending rates and the amount of funds institutions require to hold in foreign exchange reserves, hoping to prevent a further downturn in the ailing property sector. Economic data coming out of …

China's new home sales sees sharp rise in March: Survey
1 year, 11 months ago

China's new home sales sees sharp rise in March: Survey

Hindustan Times  

China's new home sales rose sharply in March, as a slew of support policies boosted a pickup in demand across the board in 14 surveyed cities, a private survey showed on Monday. The sales of new homes rose 55.7% month-on-month, up from growth of 31.9% in February, according to data from the China Index Academy — one of the country's …

Officials: China real estate recovering from debt crackdown
2 years ago

Officials: China real estate recovering from debt crackdown

Associated Press  

BEIJING — China’s vast real estate industry is recovering from a slump triggered by tighter debt controls, a deputy central bank governor said Friday, after a wave of defaults by developers rattled global financial markets. Pan Gongsheng mentioned Evergrande Group, the global industry’s most heavily indebted developer, but gave no update on its government-supervised efforts to restructure 2.1 trillion yuan …

China's property sales static despite policies to stimulate market: Report
2 years, 1 month 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 …

Why squatters in unfinished apartments spell trouble for Xi Jinping : The Indicator from Planet Money : NPR
2 years, 5 months ago

Why squatters in unfinished apartments spell trouble for Xi Jinping : The Indicator from Planet Money : NPR

NPR  

The mess at the heart of China's economy Enlarge this image Noel Celis/AFP via Getty Images Noel Celis/AFP via Getty Images For the past few decades, China's housing market has reached astonishing heights. As Xi Jinping takes on a third term as China's leader, though, the country is in the midst of a generational housing crisis. The nation's largest developers …

Chinese people's lives see all-around improvement over past decade: report
2 years, 5 months ago

Chinese people's lives see all-around improvement over past decade: report

China Daily  

Wearing headwear that resembles birds, students make posters for World Migratory Bird Day at an elementary school in Qingdao, Shandong province, on Oct 8, 2022, as they learn about avian life and protection efforts. BEIJING -- The Communist Party of China has brought about an all-around improvement in Chinese people's lives over the past decade, according to a report submitted …

Chinese people's lives see all-around improvement over past decade: report
2 years, 5 months ago

Chinese people's lives see all-around improvement over past decade: report

China Daily  

Wearing headwear that resembles birds, students make posters for World Migratory Bird Day at an elementary school in Qingdao, Shandong province, on Oct 8, 2022, as they learn about avian life and protection efforts. BEIJING -- The Communist Party of China has brought about an all-around improvement in Chinese people's lives over the past decade, according to a report submitted …

Explained | How bad is China’s property crisis and how did it get here?
2 years, 7 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 …

Pinched by housing downturn, Chinese families rein in spending
2 years, 7 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 …

The Chinese dream of homeownership is crumbling. The economy could go with it
2 years, 7 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. …

房企上半年业绩“腰斩” 下半年有望一扫颓势
2 years, 8 months ago

房企上半年业绩“腰斩” 下半年有望一扫颓势

China Daily  

受疫情暴发、市场预期和需求疲软的影响，2022年上半年百强房企整体业绩出现大幅跳水，同比降幅达50.3%。然而6月以来，楼市成交量又开始复苏，业内人士认为下半年销售业绩将会有所好转。 Potential homebuyers look at property models in Huaian, Jiangsu province. 受疫情暴发、市场预期和需求疲软的影响，中国房地产销售额在2022年上半年降幅过半。然而，随着大城市的疫情逐步得到控制，住宅销售量日渐提升，房地产开发商预期下半年业绩会有所好转。 Data collected by various research organizations all showed that the nation's top 100 property developers' sales revenues from January to June shrank by more than half from a year ago, and they are feeling great pressure in the second half to meet their annual sales targets. 多个研究机构收集的数据均显示，今年1-6月国内百强房企销售额同比降幅过半，下半年将面临完成年度销售目标的巨大压力。 In …

房企上半年业绩“腰斩” 下半年有望一扫颓势
2 years, 8 months ago

房企上半年业绩“腰斩” 下半年有望一扫颓势

China Daily  

受疫情暴发、市场预期和需求疲软的影响，2022年上半年百强房企整体业绩出现大幅跳水，同比降幅达50.3%。然而6月以来，楼市成交量又开始复苏，业内人士认为下半年销售业绩将会有所好转。 Potential homebuyers look at property models in Huaian, Jiangsu province. 受疫情暴发、市场预期和需求疲软的影响，中国房地产销售额在2022年上半年降幅过半。然而，随着大城市的疫情逐步得到控制，住宅销售量日渐提升，房地产开发商预期下半年业绩会有所好转。 Data collected by various research organizations all showed that the nation's top 100 property developers' sales revenues from January to June shrank by more than half from a year ago, and they are feeling great pressure in the second half to meet their annual sales targets. 多个研究机构收集的数据均显示，今年1-6月国内百强房企销售额同比降幅过半，下半年将面临完成年度销售目标的巨大压力。 In …

中国商业地产投资意愿创新高 上海成首选投资目的地
3 years ago

中国商业地产投资意愿创新高 上海成首选投资目的地

China Daily  

地产服务与投资机构的报告显示，随着境内外投资者投资意向的上涨，2022年中国商业地产投资有望首次突破3000亿元。上海是最受欢迎的投资目的地，过去一年的商业地产成交量占到全国总成交量的四成。 Skyscraper window cleaners clean the exterior of the Guiyang International Trade Center in Guiyang, Guizhou province, on March 15. China's annual commercial real estate investment is expected to exceed 300 billion yuan for the first time in 2022. 2022年中国商业地产投资有望首度突破3000亿元。 It shows that China's economy is on track of recovery this year as countercyclical policies and structural transformation ensure stable …

China’s economy beats expectations with 4 percent growth in Q4
3 years, 2 months ago

China’s economy beats expectations with 4 percent growth in Q4

Al Jazeera  

Chinese economy expands 8.1 percent for the whole of 2021 amid weakest Q4 growth in more than a year. “The Evergrande debt default had a chilling effect on construction and property development, and likely indicates balance sheet issues at other property firms,” said Tommy Wu, lead China economist for Oxford Economics in Hong Kong. The large stimulus seen in previous …

2021年12月份商品住宅销售价格环比呈降势 同比涨幅回落
3 years, 2 months ago

2021年12月份商品住宅销售价格环比呈降势 同比涨幅回落

China Daily  

1月15日，国家统计局发布2021年12月份70个大中城市商品住宅销售价格变动情况。 图片来源：中国日报 China continued to see a generally stable housing market in December 2021, with home prices in 70 major cities showing slight month-on-month declines, official data showed Saturday. 2021年12月份，70个大中城市商品住宅销售价格环比总体延续四季度以来的下降态势。 New home prices in four first-tier cities -- Beijing, Shanghai, Shenzhen and Guangzhou -- edged down 0.1 percent month-on-month on average in December although price movements diverged, according to data …

Beijing finds way to meet rental housing demand
3 years, 3 months ago

Beijing finds way to meet rental housing demand

China Daily  

Editor's Note: Since the launch of the housing reform in the mid-1990s, the housing sector, including rental housing, has developed in different ways in urban and rural areas, mainly because of the availability of land, writes a veteran journalist with China Daily in the third of a series of commentaries on housing. Since the demand for low-rent housing needs to …

Explained: Why China's property crash isn't a Lehman Brothers moment
3 years, 4 months 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 Q3 GDP: China’s economy is getting walloped by crises in energy, shipping and real estate
3 years, 5 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, 5 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 …

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