Beijing’s ‘Digest’ plan signals shift in China’s housing crisis
Live MintBeijing’s newfound focus on a housing glut marks a sea change in how senior officials view China’s festering property crisis, setting the stage for rescue efforts that could range from unprecedented easing for home buyers to billions in state spending to buy up unsold projects. Chinese policymakers’ passing mention last week of plans to consider “policy to digest existing housing inventory" has been a much-parsed phrase in recent days, with analysts stressing it marks the first time in a long-running real-estate downturn that top officials have publicly broached the subject of excess apartment supply. They said another part of the study—to “optimize policies on new housing supply"—suggests the government wants more public-housing options. “It’s the first time the Politburo signaled that reducing housing inventory and improving policies for new supply are a key focus," said Bruce Pang, JLL chief economist for Greater China. Analysts disagree on whether the “digest" phrase suggests the central government would play a greater role than local governments in buying excess housing inventory.
History of this topic
China unveils 'historic' steps to stabilise crisis-hit real estate sector
Hindustan TimesChina rolls out new measures to fix its property crisis, spur growth
Associated Press
Measures released to digest housing inventories
China Daily
Chinese vice premier urges efforts to ensure delivery of housing projects
China DailyChina pledges more help for its ailing property market, as IMF forecasts economy will slow
Associated Press
Top Chinese leaders say economy 'facing new difficulties'
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