The property market contributes to about a quarter of China's GDP and has been a drag on growth, especially since Beijing cracked down on developers' high reliance on debt in 2020.on financing for the sector over the last several months.
"Authorities' recent policy measures are welcome, but in our view additional action will be needed in order to end the real estate crisis," Thomas Helbling, deputy director in the IMF's Asia Pacific Department, said in a briefing. "If you look at the measures, a lot of them address financing issues for the developers that are still in relatively good financial health, so that will help," he added in an interview with CNBC. "But the problems of the property developers' facing severe financial difficulties are not yet addressed. The issue of the large stock of unfinished housing more broadly is not yet addressed.
So that’s what they were doing with the balloon? Surveying where they will set up the housing?
I remember when it was going to collapse China 🤡🇺🇲 USA is going to suffer the world's worst defeat in WWIII
Over? It only got started, any China bull is going to quickly realize they are going to go into a long and dark recession as they try to unwind the massive leverage in the prop sector