China's property woes worsened on all fronts last month, as price falls in both new and resale homes amid deeper contractions in construction starts and investment by developers piled pressure on the sector in a rare confluence of declines.
The Chinese property market, accounting for a quarter of gross domestic product by some metrics, has slowed sharply since May, with sentiment increasingly shaken by stress in the sector in the wake of a growing liquidity crisis that has engulfed some of the country's biggest and most indebted developers.Most analysts, however, expect demand and supply to return to more normal conditions by the end of the year or early 2022 as regulators tweak their policies to stabilise the sector.
Tougher regulations on new borrowing since the summer of last year have squeezed developers financially and cast an ever lengthening shadow on new projects. China is expected to stand firm on policies to curb excess borrowing by developers and speculative home purchases, although it has eased financing conditions to help genuine home buyers.
New mortgage loans jumped 40% in October from the previous month to 348.1 billion yuan , although the amount was just 7% above the monthly average in the first nine months of the year.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China satisfied with Boeing 737 MAX changes, seeks industry feedback - documentChina's aviation regulator has told airlines it is satisfied that design changes Boeing Co proposed for its 737 MAX plane could resolve safety problems, in a sign it is closer to lifting a more than two-year flight ban in Chinese skies.
Read more »
EV Share Of China Passenger Car Market More Than Tripled To Nearly 19% In OctoberEV Share Of China Passenger Car Market More Than Tripled To Nearly 19% In October:
Read more »
China and India will have to explain themselves on coal, COP26 president says'China and India are going to have to explain themselves to the most climate vulnerable countries in the world,' Alok Sharma said Sunday.
Read more »
China regulator proposes cybersecurity review for some Hong Kong IPOsChina's cyberspace regulator on Sunday proposed requiring companies pursuing share listings in Hong Kong to apply for cybersecurity inspections if they handle data that concerns national security.
Read more »
Top US, China diplomats lock horns over Taiwan ahead of Biden-Xi summitSenior Chinese diplomat Wang Yi warned of the dangers of US support for the 'Taiwan independence' after US Secretary of State Antony Blinken raised concerns over Beijing's pressure on Taipei.
Read more »
Opinion | ‘Xi Jinping Thought’ Makes China a Tougher AdversaryFrom WSJopinion: Xi Jinping is on track to rule China through at least five American presidencies. The U.S. needs urgently to establish a long-term, bipartisan national China strategy through to 2035 and beyond, writes MrKRudd
Read more »