Page 15 - Development Institution News Today

BEIJING—Persistent weakness last month in China's property market and manufacturing sector, which combined account for half of the ...

Persistent weakness last month in Chinas property market and manufacturing sector, which combined account for half of the countrys gross domestic product, renews risks to its recovery already

"I call on every comrade to take the lead to buy a property."

People who bought residences from developers' plans have stopped making payments on unfinished dwellings, cutting off source of completion funding

Chinese authorities are promising to establish an initial rescue fund of $11.8 billion (80 billion yuan) to offset a looming crisis in the real estate sector, where homebuyers routinely purchase residences from developers' plans and begin making mortgage payments before the dwellings are finished. By having customers purchase homes "off plan," builders can receive construction…

The Chinese property firm is expected to deliver a preliminary restructuring plan this week.

China Tightens Oversight of Pre-sale Funds to Prevent Unfinished Homes

The mortgage boycott has aggravated the real estate crisis that has already hit the economy

Leading banks and industry experts on Thursday downplayed fears over perceived risks to China's financial system from the suspension of mortgage payments by homebuyers in certain smaller cities across the nation.

Debt-laden China Evergrande Group said on Tuesday that a winding-up petition will not affect the group's restructuring schedule, while experts said the petition does not necessarily mean bankruptcy for the property developer.