There Are More Signs That China’s Property Market Is Cooling Off
ByChinese policymakers have resorted to traditional levers to juice the economy this year:investment, public-sector spending, and monetary expansion.
Housing construction, real estate, and public services helped to keep headline year-on-year growth on an even keel at 6.7 percent in the second quarter, offsetting falling financial sector output. But there are growing signs the property market has slowed down, while imbalances in the sector are growing, according to analysts.
“As of June, China’s property market, which has largely been supported by government policy changes, is no longer delivering what the economy needs,” wrote Bloomberg Intelligence economists Michael McDonough, Tom Orlik, and Fielding Chen in a research note today…
There Are More Signs That China’s Property Market Is Cooling Off
