China's Economic Outlook Dulled by Fresh Property, COVID-19 Woes
BEIJING—Persistent weakness last month in China's property market and manufacturing sector, which combined account for half of the ...
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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 China's property market and manufacturing sector, which combined account for half of the country's 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…