China's Real Estate Bubble Burst

After a year or so of crisis, property developer stocks surged in November 2022. After the news that the central bank and banking regulator issued measures that encouraged banks to help the real estate industry. This is just a short sketch of a much more complex situation which sees an intricate connection between the finance, growth, urban development, national rhetoric and much more. I'm very happy to have both of you, Alisa and Yumpeng, to discuss this,. because you can help us understand what is going on at the systemic level, what is happening and how it happened. And then also at local level, and how this is all connected to the other parts of the Chinese puzzle.