Beijing's new property policy

CHINA ADVISORY - Report 28 May 2024 by Andrew Collier

Beijing announced new property regulations designed to restart growth in the sector. These regulations include a central government lending program, along with lower interest rates for homebuyers. Unfortunately, these measures will have only a minimal impact on economic growth for two reasons: 1) these measures are relatively small compared to the size of the problem; and 2) they will face political opposition among the institutions tasked with implementing them. Analyzing this dynamic is helpful in understanding China’s economic path forward and the thinking of Xi Jinping and the Politburo.

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