Lulu Chen, Bloomberg's Asia finance editor, discusses the ongoing crisis in China's housing market. She highlights the staggering number of vacant apartments and the struggles of developers amid financial woes. Focusing on Zhengzhou, she examines the government's bold strategies for reviving the market, including buying unsold properties for affordable housing. Despite these attempts, persistent challenges threaten to undermine these efforts. The conversation raises concerns over the potential impact on China's economic stability if the situation doesn't improve.

Lulu Chen, Bloomberg's editor for Asia Finance, delves into China's housing market crisis. She reveals how tens of millions of empty apartments and cash-strapped developers underscore the situation's severity. The discussion highlights Zhengzhou, a city battling the fallout, and the government's questionable initiatives to transform unsold units into affordable housing. Chen emphasizes the profound economic implications if the rescue efforts falter, raising concerns about homebuyer confidence and the potential long-term effects on China's economy.