The western Chinese city of Xi'an is to set up a public-private fund worth up to 5 billion yuan ($686 million) aimed at supporting cash-strapped government-backed financing vehicles, in the latest ... ( read original story ...)
Unpaid workers, silent sites: Property woes hit Country Garden
At an unfinished Country Garden residential complex on the outskirts of the northern Chinese metropolis of Tianjin, construction has slowed, and a few idle workers roam a near-empty site. ( read original story ...)
China’s property crisis is a US$261 billion credit pain for lenders, trust firms and insurers, Goldman says
China’s lenders, trust firms, insurers and other investors could face US$261 billion of credit losses as the nation’s property developers fall behind debt repayments, according to analysts at Goldman ... ( read original story ...)
China property-market pessimists missing underlying demand, says veteran economist with track record of correct calls
Strong sales by property developers with state backing and rising rents show ‘continuing housing demand’, says Hong Hao of Grow Investment Group, who has a track record of correct calls. ( read original story ...)
China cuts key loan prime rate again as property woes deepen
In a widely expected move, the People's Bank of China cut the one-year loan prime rate by 10 basis points to 3.45%, from 3.55%, in an effort to ease borrowing costs for businesses. It kept the ... ( read original story ...)
China’s property downturn spreads to trophy office buildings
HONG KONG/SHANGHAI -- Vacancies are rising in China's most exclusive office buildings as businesses look to reduce rental expenses during the country's disappointing economic recovery. ( read original story ...)
China’s Flailing Property Market Sparks Fears of ‘Lehman Moment’
Zhongrong International Trust Co., one of the largest entities in China’s shadow-banking sector with, $108 billion in assets at the end of 2022, recently missed $14 million in payments to a handful of ... ( read original story ...)