Due to strong intervention by the Chinese government, there have been no acute symptoms of a bursting bubble, such as a dramatic fall in property prices or bankruptcy of property developers. However, homeowners who have experienced a decline in property value have gone into money-saving mode, and consumption remains sluggish.
torsdag 18. april 2024
Xi Jinping's conundrum fixing the Chinese economy
The slowdown in China’s economic growth is attracting global attention. The biggest reason is that the real estate industry, which has accounted for a quarter of GDP, is experiencing an unprecedented recession. Compared to 2019, before the coronavirus pandemic, 2023 witnessed a staggering decline in both new home construction and sales, with figures plummeting by 54% and 59% respectively.
Due to strong intervention by the Chinese government, there have been no acute symptoms of a bursting bubble, such as a dramatic fall in property prices or bankruptcy of property developers. However, homeowners who have experienced a decline in property value have gone into money-saving mode, and consumption remains sluggish.
Due to strong intervention by the Chinese government, there have been no acute symptoms of a bursting bubble, such as a dramatic fall in property prices or bankruptcy of property developers. However, homeowners who have experienced a decline in property value have gone into money-saving mode, and consumption remains sluggish.
