Chinese property stocks rose a day after a deeper-than-expected cut to a key mortgage reference rate bolstered hopes that authorities are doing more to shore up the ailing sector. ( read original story ...)
HSBC suffers $3bn hit to China operations amid property crisis
HSBC suffered a sharp slide in quarterly profits in the final three months of 2023 as the bank suffered a $3bn (£2.4bn) hit to its China division. The ongoing crisis in the Chinese property market ... ( read original story ...)
China slashes mortgage reference rates to revive property market
SHANGHAI/SINGAPORE: China announced its biggest ever reduction in the benchmark mortgage rate on Tuesday, as authorities sought to prop up the struggling property market and broader economy. ( read original story ...)
China cuts mortgage reference rate more than expected to revive property market
China cut the benchmark reference rate for mortgages at a monthly fixing on Tuesday by more than expected, as authorities ramped up efforts to stimulate credit demand and revive the property market. ( read original story ...)
China state banks earmark over $11 billion for property projects
The banks are heeding Beijing’s call to boost lending to the beleaguered housing market. Read more at straitstimes.com. ( read original story ...)
China’s New Year Buyers Look to Gold as Stocks and Property Crash
One shopper, who works in the Lujiazui financial district in Shanghai, said he spent a few thousand yuan this week buying a gold necklace for his girlfriend as a present for both Lunar New Year and ... ( read original story ...)
Beijing Continues To Mismanage China’s Property Problems
Property development enhanced growth statistics and made the ... Beijing has also eased rules on how much people must put down to buy a residence in Beijing and Shanghai. Moves like these might have ... ( read original story ...)