CX Daily: Why policy easing may not revive China’s property market anytime soon

Real estate /

In Depth: Why Easing Policies May Not Revive China’s Property Market Anytime Soon

The Chinese real estate market is no stranger to typical economic cycles. The continuous expansion and contraction of sales and investments have helped the market grow in value up to four times the country’s GDP.

But while market forces play a role in this cycle, China’s real estate sector is most influenced by government policies. Since the turn of the last century, when the country launched major housing market reform, there have been four distinct rounds of tightening and easing of national policy.

The fifth round of easing began this year. Analysts and market participants say policy easing by local governments alone cannot quickly restore confidence amid short-term factors such as the Covid-19 outbreaks and longer-term factors. such as slowing household income growth, rising household debt and regional supply glut.

Wuxi allows families with two or more children to buy a second home

Pakistan /

Beijing seeks justice in attack that killed three Chinese in Pakistan

China strongly condemned a suspected suicide bombing in Pakistan that left three Chinese nationals dead and one injured as it urged the South Asian country to bring the perpetrators to justice.

On Tuesday, three Chinese and a Pakistani were killed in what appears to be a targeted suicide bombing near the Confucius Institute at the University of Karachi, according to official statements. CCTV footage leaked online showed a woman waiting near the entrance to the institute as a van carrying the victims approached just before the explosion. A total of four people were injured.

FINANCE & ECONOMY





Consumers shop at a supermarket in Nanjing on April 24, 2022.



Consumption /

China steps on the accelerator to boost a faltering economy

As the economy shows signs of cooling amid Covid shutdowns, China is put your foot on the accelerator stimulate consumption, accelerate the development of new energy vehicles, open duty-free shops in cities and create jobs for young people.

The State Council, China’s cabinet, issued sweeping guidelines on Monday to bolster economic activity after retail sales fell 3.5% year-over-year in March, the first contraction since August 2020. China is battling its worst Covid-19 outbreaks since the early days of the pandemic, driving lockdowns in several cities including Shanghai and parts of Beijing.

RCEP /

China’s RCEP trade off to a good start

China’s trade with other countries under the Regional Comprehensive Economic Partnership (RCEP) increased by 9.5% year-on-year in the first quarter after the free trade agreement entered into force for most members on January 1, according to customs data.

Trade between China and the other 14 RCEP countries hit $449.4 billion, the most for the same period in at least four years, according to Caixin’s calculations based on data released by the General Administration of Customs. . The growth rate slowed from 31.5% a year earlier when trade was boosted by the recovery from a Covid-related crisis in 2020.

Quick shots /

World gain for Chinese bonds shows the power of PBOC policy

Opinion: How to Fine-Tune the Chinese Version of the Individual Retirement Account

COMPANY & TECHNOLOGY





High-rise apartment buildings in China Evergrande Group’s under-construction Riverside Palace development in Taicang, Jiangsu province, September 24, 2021. Photo: VCG



Goods /

Cautious Chinese banks and bad debt managers urged to come to the rescue of real estate

Chinese financial regulators have instructed the country’s state-owned asset management firms and nearly 20 banks to help a dozen Chinese property developers who are struggling to pay their bills, including by buying up their debts, market insiders told Caixin.

The instructions came as the liquidity situation in the real estate sector deteriorated, many manufacturers in difficulty to refinance debt and pay creditors as homebuyers and investors stand on the sidelines of a declining real estate market.

Meituan /

Meituan shuts down grocery group buying service in Beijing

Meituan farm its community group buying service in Beijing, sparking speculation that there may be a link to the city’s recent Covid-19 outbreak.

“Starting April 26, the pick-up station of your choice will temporarily halt services, to ensure the best user experience,” Meituan said in a notice posted Monday on both its app and the WeChat Mini Program.

Orders taken before April 25 will still be fulfilled, he said.

UAV /

Drone maker DJI temporarily stops doing business in Russia and Ukraine

Chinese drone manufacturer SZ DJI Technology Co. Ltd. said he would stop doing business for now in Russia and Ukraine, a move that came a month after kyiv asked the company to ground all DJI drones used by the Russian military.

The suspensions in Russia and Ukraine will remain in place pending an internal reassessment of “compliance requirements in various jurisdictions,” DJI said in a brief statement Tuesday.

Quick shots /

China’s power consumption growth slowed further in April, industry body says

Wall Street banks cut Chinese corporate earnings forecast as Covid drags

GALLERY





Beijing extends Covid measures


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