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China: Reopening, Rebound, and Challenges

IMF Podcasts

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China's Real Estate Crisis

Real estate has been a very important driver of China's economic growth for much of the decade before the pandemic. Land sales account for about 40% of local government revenues. As well as the real estate sector plays an important role in the Chinese financial system with mortgages and developers, loans accounting for roughly about a third of bank loans.

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