Post by account_disabled on Feb 27, 2024 1:47:33 GMT -5
The inventory of available properties is decreasing daily," said Xue, who asked to be identified by one name, adding that there were signs that after a long period of falling prices, some owners were hoping to raise prices again. Xue's optimistic forecast was not universally shared (other agents reported little change in the market), but high-frequency housing market data over the past week showed some increase in buyer interest in the country's largest cities, said the economists. The precarious state of China's real estate sector, which normally accounts for more than a quarter of activity in the world's second-largest economy, prompted Beijing last week to unleash its broadest effort in years to revive demand in the industry. indebted The measures, which included easing requirements for mortgage down payments and interest rates, came alongside broader measures designed to boost confidence that targeted the country's stock market, consumer confidence and weakening currency, the renminbi.
Taken together, the announcements represented authorities' firmest recognition of the magnitude of the challenge facing China's faltering economy. But economists said investors would wait for more evidence of Jordan Mobile Number List a tangible impact on domestic demand before venturing into the market again. “These are the strongest measures to date when it comes to the housing market, so it really shows that Beijing is putting some force behind its words,” said Frederic Neumann, HSBC's chief Asia economist. "It remains to be seen how much traction they are really getting." You are viewing a snapshot of an interactive chart. This is most likely because you are not logged in or JavaScript is disabled in your browser. China's economy began to show signs that the post-pandemic recovery was losing steam in the second quarter, as falling property sales compounded the decline in exports and industrial production.
Sentiment continued to weaken after the ruling Communist Party's politburo meeting in July failed to assemble even a modest stimulus package to boost a recovery that they admitted was making only "tortuous" progress, let alone the expected one. "bazooka". In August, more bad news swept the markets, including late interest payments from China's largest private property developer by sales, Country Garden; a huge loss for its rival Evergrande, whose default in 2021 had repercussions throughout the sector; and a liquidity crisis at the Zhongzhi financial conglomerate. The government further stoked distrust among investors by suddenly canceling the release of data on youth unemployment, which had reached record levels, as consumer prices fell. Factory activity declined for the fifth consecutive month in August.
Taken together, the announcements represented authorities' firmest recognition of the magnitude of the challenge facing China's faltering economy. But economists said investors would wait for more evidence of Jordan Mobile Number List a tangible impact on domestic demand before venturing into the market again. “These are the strongest measures to date when it comes to the housing market, so it really shows that Beijing is putting some force behind its words,” said Frederic Neumann, HSBC's chief Asia economist. "It remains to be seen how much traction they are really getting." You are viewing a snapshot of an interactive chart. This is most likely because you are not logged in or JavaScript is disabled in your browser. China's economy began to show signs that the post-pandemic recovery was losing steam in the second quarter, as falling property sales compounded the decline in exports and industrial production.
Sentiment continued to weaken after the ruling Communist Party's politburo meeting in July failed to assemble even a modest stimulus package to boost a recovery that they admitted was making only "tortuous" progress, let alone the expected one. "bazooka". In August, more bad news swept the markets, including late interest payments from China's largest private property developer by sales, Country Garden; a huge loss for its rival Evergrande, whose default in 2021 had repercussions throughout the sector; and a liquidity crisis at the Zhongzhi financial conglomerate. The government further stoked distrust among investors by suddenly canceling the release of data on youth unemployment, which had reached record levels, as consumer prices fell. Factory activity declined for the fifth consecutive month in August.
