In Conversation with GROW – Outlook for China’s Economy
Beyond Markets
00:00
The Three Arrows and the Chinese Property Market
The new home sales had a strong pickup in February and March, but it turned out to be short-lived because it quickly fell back to low levels in April and May. I think the three arrows that you mentioned is really trying to help the developers to get out of their trouble because they borrowed too much in the past five years. Some of the developers have outstanding debt amounts to two to three trillion-yard, right? So which is like a size that none of the Chinese companies have ever seen in history. On one hand, we have a very weak property demand, but then on the other hand, because of the policies helping developers to help them recover, our supply is actually still very
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