Beijing is mocking and blocking bad news about its economy, but questions about its real estate sector are growing.
is in the grip of what many are already calling an economic crisis, but the government has gone to considerable lengths to gloss over the structural and sector-specific pain points by highlighting things it considers are going well, such as electric vehicle sales and tech developments.
Internally, there are moves to stabilize the situation and to retrain and help citizens, going by the projects the State Council is happy to report on. Externally, it's a The WEF also revealed that state-owned developers had 48 percent growth in contracted sales in the first seven months of the year, while non-state-owned companies saw contracted sales fall by 19 percent. Some 87 percent of land purchases are by state-owned firms.
The ministry is also rolling out policies to boost inclusive finance over the next five years. These measures will take effect on October 1, with central government funding start-ups and rural financial institutions. These figures are difficult to verify independently, but they do give some insight into where China is spending and on whom.
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