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Markets in China sank Friday despite a fresh flurry of measures to help prop up the ailing property sector, as the International Monetary Fund forecast that the Chinese economy will continue to slow in coming years.
Markets in China sank Friday despite a fresh flurry of measures to help prop up the ailing property sector, as the International Monetary Fund forecast that the Chinese economy will continue to slow in coming years.
China has rolled out a flurry of measures to help prop up its ailing property market, while also promising to boost government spending.
Chinese markets have retreated despite a fresh flurry of measures to help prop up the ailing property sector. Shanghai's Composite index dropped 1.5% after dipping sharply lower earlier in the
China has announced measures to support the ailing property market, aiming to increase the supply of affordable housing and boost demand. The move comes just weeks before the annual meeting of the national congress, where the ruling Communist Party will showcase its leadership. The real estate industry, which accounts for nearly a third of the country's economic activity, has been impacted by a crackdown on excessive borrowing.