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Challenges Persist: China's real estate sector faces prolonged turbulence
Posted on April 15, 2024 |
China's real estate challenges are anticipated to endure, necessitating swift action to bolster significant GDP growth.
Formerly, real estate and its affiliated sectors constituted a substantial portion of China's economy, accounting for one-fifth or more, with variations depending on analysts' assessments.
Over recent years, the property industry has faced a decline following Beijing's crackdown on developers' excessive debt reliance for expansion.
In comparison to housing corrections witnessed in countries such as the US, Japan, and Spain, China's housing market correction is speculated to be only halfway complete in terms of its depth.