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Top related persons:
Nomura - 2 Huai - 1 Edward Chan - 1 Ting - 1 Goldman Sachs - 1 Chief China Economist Hui Shan - 1 Ting Lu - 1 P's Chan - 1
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Wanxiang City East China's Jiangsu China City Hong Kong Beijing Ting Lu BEIJING
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Future Publishing - 2 Getty - 2 China - 2 BEIJING - 1 Chief China Economist - 1 Nurphoto - 1 Tsinghua University - 1 People's Bank of China - 1

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☆ China's sweeping measures to prop up the property sector will need time to show results
  + stars: | 2024-05-21 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +3 min
A real estate construction site in Wanxiang City, Huai 'an City, East China's Jiangsu province, May 17, 2024. Future Publishing | Future Publishing | Getty ImagesBEIJING — China's sweeping moves on Friday to increase support for real estate will take time to show results, analysts said. Despite the news, S&P is still sticking to its base case from earlier in the month that China's property market is likely still "searching for a bottom," Edward Chan, director, corporate ratings, said during the firm's webinar on Monday. But he pointed out that for real estate to see significant stabilization, homebuyers' demand and confidence will need to improve after a market downturn of nearly three years. "We believe Beijing is headed in the right direction with regard to ending the epic housing crisis," Nomura's Chief China Economist Ting Lu said in a report Monday.
Persons: Huai, Edward Chan, Ting, Nomura, Goldman Sachs, Chief China Economist Hui Shan, Ting Lu, P's Chan Organizations: Future Publishing, Getty, BEIJING, Chief China Economist, China Locations: Wanxiang City, City, East China's Jiangsu, Hong Kong, Beijing, Ting Lu, China
☆ China pledges $42 billion in a slew of measures to support the struggling property sector
  + stars: | 2024-05-17 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +5 min
China announced "historic" steps to stabilize the crisis-hit property sector on May 17, 2024, allowing local governments to buy "some" apartments, relaxing mortgage rules and pledging to deliver unfinished homes. These and other measures announced Friday marked Beijing's latest efforts to address issues in the massive real estate sector. The real estate companies can then use funds earned from those sales to complete construction on other apartments, the central bank said. Pre-sold, unfinished homesFor years, many apartments in China tended to be sold before construction was finished. Nomura estimated last year there were around 20 million such pre-sold, unfinished apartments in China.
Persons: Zhu Ning, Tao Ling, Xiao Yuanqi, Larry Hu, Dong Jianguo, Lifeng, Zhu, Nomura Organizations: China, Nurphoto, Getty, Tsinghua University, People's Bank of China, National Financial Regulatory, Macquarie, CNBC, of Housing, Housing, Future Publishing Locations: BEIJING, Wanxiang City, Huai'an City, East China's Jiangsu, China
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