Evergrande revealed that it lost a combined $81 billion in 2021 and 2022 during China’s massive property bust.
PROPERTY
China’s property market is shrinking at a faster pace, dragging further on the economy
Property sales dropped 28.1% in June, while investment in the sector also took a hit, as GDP growth in the second quarter disappointed.
China June property sales fall at fastest clip this year
China’s property sales between June and May showed the largest monthly drop this year, based on sales by floor area, and investment in property also slumped, official data showed on Monday, …
China’s Jan-June property sales, investment fell at faster pace
Property sales by floor area in China fell at a faster pace in January-June from a year earlier, down 5.3% compared with a 0.9% fall in the first five months, official data showed on Monday,…
China GDP growth falls short of expectations as sinking property prices hit economy
Data shows the economy grew just 0.8% in the June quarter, down from 2.2% in the first three months of 2023 …
China new home prices in June flat in weakest showing this year
China’s new home prices were unchanged in June, the weakest result this year, data showed on Saturday, increasing pressure on policymakers for more stimulus as economic recovery falters. The flat …
China June new home prices flat in weakest showing this year
China’s new home prices were unchanged in June, the weakest result this year, data showed on Saturday, increasing pressure on policymakers for more stimulus as economic recovery falters.
Asian Markets Rise As China Pledges Fresh Property Support
Asian markets rose Tuesday, with Hong Kong and Shanghai lifted by China moves to support its struggling property sector and authorities’ pledged further help for the economy.
China’s Property Sector Didn’t Get the Boost Economists Were Hoping For
Those betting that Chinese regulators would give a big boost to the country’s struggling property sector had their hopes dashed on Monday—at least for now. Two powerful regulators announced a series o …
China to Extend Policies to Support Ailing Property Market
China will extend policies to support cash-strapped developers and shore up the ailing real estate sector, including allowing the postponement of loan repayments by a year.
Rio Tinto Says China’s Economy Faces a ‘Big Real Estate Issue’
Miner Rio Tinto Group sees a host of near-term economic challenges in China, including in the country’s real estate industry, but reaffirmed its positive medium- and long-term outlook.
China property developer Kaisa faces Hong Kong lawsuit seeking to wind it up
Chinese property developer Kaisa Group said on Monday a winding-up petition has been filed against it in a Hong Kong court in relation to 170 million yuan ($23.50 million) non-payments on onshore …
Florida pushes back against challenge to law that restricts people from China owning property
The controversial law affects people from what Florida calls “foreign countries of concern” — China, Russia, Iran, North Korea, Cuba, Venezuela and Syria, with part of it specifically focused on …
