China plans more policies to prop up the ailing property sector. But will that be enough?
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A commercial residential complex under construction in Yichang, Hubei province, China, December 15, 2022.
Synopsis
China’s housing sales have plunged 28.4% in the first 10 months of 2022. Clearly, depending solely on financial tools may not be enough as the country’s real-estate industry is undergoing fundamental change, say experts. So, what could help revive its growth?
Han Wei China is poised to roll out more policies to assist developers in an increasingly desperate attempt to arrest a protracted downturn of the multi-trillion-dollar property sector, a key pillar of the world’s second largest economy, Caixin has learned from sources close to policymakers. However, reversing the downturn, that has seen housing sales plunge 28.4% in the first 10 months of this year, will not be easy and depending solely on
BY
Caixin Global
10 mins read
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