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China will expand the amount of financing available for housing projects on a “white list” to 4 trillion yuan ($562 billion), officials said Thursday in Beijing's latest moves to reverse a ...
China's latest attempt to prop up the economy includes mortgage rate and down payment reductions. But JPMorgan doesn't see it as a game-changer.
(Reuters) -China is considering a plan for local governments nationwide to buy millions of unsold homes, Bloomberg News said on Wednesday, after a meeting of leaders of the ruling Communist Party ...
The real estate market began to develop in earnest after 1998. [6]: 64 As of 2010, China's real estate market is the largest in the world. [7] [8] According to Bloomberg Economics estimates, the sector contributed to about 19% of China's GDP in 2024, [9] down from a peak of 24% in 2018.
Construction of urban housing was a major undertaking. The country has shown a major shift in allocating funds and resources to housing their people, building over 5.5 million apartments between the years of 2003 and 2014 in China's cities. These construction projects assigned by the state influence the construction job market in China as well.
One of the key reasons for the Chinese mortgage boycott is a result of the previous high demand for housing. The rise of the middle-class in China since the early 2000s precipitated a substantial investment in property, with many channelling savings into real estate as given the widely-held perception of Chinese property as one of the most stable forms of investment, with house prices ...
The persistent weakness in the housing market is hobbling China’s economic recovery. The country’s gross domestic product expanded by a better-than-expected 4.9% in the third quarter ...
Ni Hong, China's minister of housing and urban-rural development. In response to the property crisis, in March 2024, China's minister of housing and urban-rural development Ni Hong said at a press conference that real estate developers must go bankrupt if necessary "in accordance with the law or market principles." [110]