On Thursday, China unveiled new measures to prop up its struggling property market.
AdvertisementChina officials have directed a wave of stimulus measures at the country's beleaguered property market, but the effort hasn't done much to impress Wall Street experts.
On Thursday, China unveiled new measures to prop up its flailing housing market, including quicker access to credit for developers and renovations in run-down urban areas.
"While a step in the right direction, these stimulus measures are so far falling short of the scope and scale needed to reflate the Chinese economy.
But Yingrui Wang, China economist at AXA Investment Managers, says that optimism could be short-lived as the housing stimulus lacks detail.
Persons:
—, Wall, Goldman Sachs, haven't, Yingrui Wang, Wang
Organizations:
Service, Ministry of Housing, Ministry, BCA Research, AXA Investment, CSI
Locations:
China, Beijing, China's