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The Chinese property sector crisis is a current financial crisis sparked by the 2021 default of Evergrande Group. Evergrande, and other Chinese property developers, experienced financial stress in the wake of overbuilding and subsequent new Chinese regulations on these companies' debt limits. The crisis spread beyond Evergrande in 2021 to such ...
For much of the past year since China reopened to the world following the Covid-19 pandemic, a pall has hung over large swathes of the country as its economy struggles to regain momentum.
China’s real estate market remains a drag and will put pressure on global growth. New home prices fell in September, a third straight month of decline, according to data released Thursday by the ...
By 2014, Chinese builders have added 100 billion square feet of housing space in China, equating to 74 square feet per person. 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 ...
China’s housing oversupply is far worse than previously reported, the country’s former statistics bureau deputy head says. ... 2023 at 1:41 PM. ... Will Disney World, Universal Orlando close ...
Media outlets often label under-occupied development areas in China as "ghost cities" or "ghost towns". [3] [4] However, the two terms are technically misnomers since these terms describe places that previously had economic activity but have since become defunct and abandoned, while many under-occupied developments in China are new installations that have yet to receive residential occupation.
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An official at the Ministry of Housing and Urban-Rural Development said last year that China would add 6.5 million new low-cost rental housing units in 40 major cities in 2021-2025.