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Top related persons:
Noel Celis - 1 China Vanke - 1 Allen Feng - 1 Gary Ng - 1 Ng - 1 Xi Jinping - 1
Top related locs:
Guangzhou China's Guangdong China Shanghai Hong Kong . China —
Top related orgs:
HK - 1 Afp - 1 Getty - 1 Mainland Properties - 1 Longfor Group Holdings - 1 Hang Lung - 1 China Resources - 1 . - 1

Search resuls for: "Allen Feng"


2 mentions found


☆ China property stocks rally after major cities ease homebuying restrictions
  + stars: | 2024-09-30 | by ( Anniek Bao | In | ) www.cnbc.com   time to read: +3 min
Noel Celis | Afp | Getty ImagesShares of Chinese property developers rallied on Monday after major cities in mainland China unveiled easing measures to boost homebuyer sentiment, following the central bank's blitz of policy stimulus. The Guangzhou city government said in a notice on Sunday that all restrictions on home purchases would be removed, effective from Monday. China Overseas Land & Investment and China Vanke climbed 5.06% and 12.89%. Mainland China's CSI 300 surged 6% Monday, after the index logged its best week in almost 16 years on Friday. The easing measures follow the central government's call last week to combat the property slump last week.
Persons: Noel Celis, China Vanke, Allen Feng, Gary Ng, Ng, Xi Jinping Organizations: HK, Afp, Getty, Mainland Properties, Longfor Group Holdings, Hang Lung, China Resources, ., . China Overseas Land & Investment, China's CSI, CSI, People's Bank of Locations: Guangzhou, China's, Guangdong, China, Shanghai, Hong Kong, . China, —, Beijing, People's Bank of China
☆ China's cities are struggling to pay their bills from three years of Covid and a real estate crash
  + stars: | 2023-01-31 | by ( Laura He | ) edition.cnn.com   time to read: +9 min
Rolling lockdowns seriously dented household incomes, leading many to reduce spending, which in turn resulted in less tax revenue for local governments. “China’s runaway local debt poses a serious threat to the country’s overall economic health and will weigh heavily on China’s still-nascent recovery,” said Singleton. Debt that is backed by local governments but which doesn’t show up on their balance sheets could be much bigger. That’s more than 20% higher than the estimate of 53 trillion yuan made by Goldman Sachs in 2021. Their debt squeeze could pose a serious threat to China’s financial system, particularly to small regional banks.
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