Analysis-China needs more than cheaper mortgages to revive spending
Simon Yu's monthly mortgage payments for his Shanghai apartment will drop after China's latest measures to support the ailing property sector, but so will the interest he earns on his bank deposits. Yu's bind highlights the difficulty Beijing faces in kick-starting weak consumer spending. While lowering interest rates eases the financial burdens for households, a dire economic outlook and lack of longer-term reforms in areas such as pensions and healthcare, means consumers don't have the means to loosen the purse strings, analysts say.