China's real-estate market is experiencing a sharp slowdown in home sales, causing significant damage to the economy. Policymakers are intensifying efforts to boost demand and reduce local debt risks, pledging to maintain necessary government spending despite the property slump. The collapse of the Chinese stock market continues, with the benchmark $SHCOMP falling 2.7% to a new four-year low. Banks' reluctance to lend to the crisis-hit sector remains a major obstacle for distressed developers who need fresh funding. The economy is faltering on multiple fronts, with stocks making new lows.
Meanwhile, in #China... Stocks are making new lows! https://t.co/BakajGimFs
China aims to ramp up financing for home projects in the coming days as part of its support measures, but banks' reluctance to lend to the crisis-hit sector will remain a major obstacle for the distressed developers who need fresh funding the most https://t.co/6XKToi6n0t
⚠️ ANALYSIS-NEW CHINA PROPERTY FINANCING MEASURES SET TO BE TESTED BY BANKS' CAUTIOUS APPROACH (Reuters) China aims to ramp up financing for home projects in the coming days as part of its support measures, but banks' reluctance to lend to the crisis-hit sector will remain a… https://t.co/0jK2yFp523
⚡The collapse of the Chinese stock market continues. The benchmark $SHCOMP fell 2.7% to below 2,700, a new four-year low. The Beijing Stock Exchange 50 index was down around 7%. *97% of stocks are in the red, with 57% down more than 7%. #China #stockmarket $HSI https://t.co/hrFc3rnig4
China pledged to keep spending this year despite a property market slump weighing on key government revenue sources, raising hopes that fiscal expansion can provide more support for a slowing economy https://t.co/0l2LEGOoPK
"The sharp contraction in home sales shows just how big the hurdles are for Chinese government officials trying to turn around an economy that is faltering on multiple fronts." https://t.co/Dc4NeIKDzY https://t.co/FUDdO60wi5
China’s economy is in shambles and the #CCP is lashing out. https://t.co/vE8C9JxQ0q
China promised to maintain the “necessary intensity” for government spending this year as it looks to boost demand and reduce local debt risks https://t.co/M3AQBMVyPG
China’s real-estate slowdown has dealt huge damage to the economy—and it’s getting worse https://t.co/4qhnpAL4EX
The sharp slowdown in China’s home sales drags on, even as policymakers stepped up efforts to arrest the property slump https://t.co/Mbn7ZEBUxD