China’s real estate woes look set to get worse before they get better, raising the prospect of a miserable year for property shares despite a recent bounce. Property developers in the country are still suffering from a yearslong slump that has sapped the confidence of potential buyers, caused a sharp decline in house prices and…
Since 2022, China’s economy has been haunted by a weak recovery. Real gross domestic product (GDP) growth has fallen below 5 per cent for two consecutive quarters this year, posing challenges for Beijing to achieve its annual growth target of around 5 per cent. The International Monetary Fund estimates that the proportion of China’s nominal…
One of China’s leading developers is now on authorities’ radar for default risk. A major Hong Kong builder is asking lenders to extend loans. Another industry peer is selling an iconic but largely empty mall in Beijing. As China’s property debt crisis enters its fifth year, there’s little indication that distressed developers are finding it…
Hi, this is Allen Wan in Shanghai. I was recently in Zhengzhou, a manufacturing hub for iPhones, with a colleague to check on the city’s efforts to end its part of a lingering nationwide housing crisis and threatens to further torpedo the world’s second-biggest economy. Source link
Stocks headed for the basement Wednesday as Wall Street traders pouted over the more cautious tone emanating from the US Federal Reserve. After fulfilling all expectations by cutting rates another quarter point, Fed Chair Jerome Powell made clear the central bank sees its mission now as one where it doesn’t need to be as quick…
To get John Authers’ newsletter delivered directly to your inbox, sign up here. One thing we’ve known about Donald Trump since he entered politics: He really likes tariffs. For him, trade is a zero-sum game, and the US should use tariffs to make sure it gets its fair share. Source link
China’s home-price declines eased for a third month in November, suggesting values are beginning to stabilize as policymakers step up efforts to end the property slump. New-home prices in 70 cities, excluding state-subsidized housing, dropped 0.2% from October, the smallest decrease in 17 months, National Bureau of Statistics figures showed Monday. Values of used homes…
China’s spiral into deflation is proving hard to fix. Prices in the world’s second-biggest economy have fallen for six consecutive quarters, and if they fall for one more quarter, the run would equal a record deflationary streak set in the Asian Financial Crisis in the late 1990s. Policymakers have pledged to do more to shore…
China’s $11 trillion government bond market has moved into uncharted territory as a new era of monetary policy opens up debate over how much further yields will fall from record lows. Bond prices soared after the country’s powerful Politburo made its strongest commitment to monetary easing in more than a decade. The yield on China’s…
China’s consumer inflation decelerated in November, in a sign government efforts to support the economy and sentiment haven’t been enough to turn around the weak demand. The consumer price index rose just 0.2% from a year earlier, below expectations of 0.4%. Factory deflation extended into a 26th straight month, though the 2.5% drop in the…