This crisis has intensified in recent weeks as homeowners across the country began refusing to pay their mortgages because of stalled projects and unfinished homes. The country’s real estate woes threaten to upend its social stability—China’s middle class has long relied on property as its ...
China’s economy has had a bumpy ride throughout 2022. Almost three years into the Covid-19 pandemic, headwinds including the worst outbreaks and a prolonged property sector crisis continued to put a brake on growth. China’s GDP has expanded 3% in 2022, well below the target set earlier ...
The government has yet to say what it might do about Evergrande, one of China's biggest private sector conglomerates, but financial analysts say Beijing is likely to intervene, especially to protect households that bought unfinished apartments. An outright default might dent consumer confidence...
Chinese lenders are still facing challenges such as narrow margins and low loan rates, despite Beijing's efforts to revive the economy amid a property sector crisis and sluggish consumption. Rural commercial banks, whose role is to lend money to support small businesses, are no...
All these positive signs would hardly make people draw the conclusion that the Chinese economy is experiencing some sort of a "crisis" in confidence or growth, as claimed by analysts who ignore facts or reporters wearing blinkers. The country's property sector, a focal point of these pessimistic...
Over the past decade, both the mortgage market and real estate sector have experienced a dramatic growth. The current financial crisis, which started in 2008 and significantly affecting the whole banking industry, has been attributed largely to the excessive growth of the mortgage and property ...
The Chinese chip design sector's sales revenue this year is expected to reach RMB534.57 billion ($78.74 billion), up 16.5% year-on-year, showcasing sectoral resilience amid US export restrictions, experts said after reviewing data from the China Semiconductor Industry Association on December 26, ...
In China, however, a near freezing of the IPO market this year and declining sources of capital in an economy hobbled by a property crisis and struggling for growth has given rise to reimbursement requests, threatening many startups' existence, executives said...
Shortly before Yi's remark, the PBOC released a statement on Monday that called for efforts to maintain steady financing to the real estate sector, including loans to property developers, construction firms and individual homebuyers. The country will support the reasonable extension of existing loans...
Though the official data has not been released, the latest forecast by the Organization for Economic Cooperation and Development (OECD) showed that the world economy is set to grow 2.9 percent this year and in 2020, the weakest pace since the global financial crisis over a ...