Real Estate

China’s property market debt an issue for the economy: George Magnus


Vehicles drive by unfinished residential buildings from the Evergrande Oasis, a housing complex developed by Evergrande Group, in Luoyang, China September 16, 2021.

Carlos Garcia Rawlins | Reuters

The debt problems facing China’s property sector are likely to cause a period of stagnation which affects both the domestic and global economy, according to George Magnus, economist and research associate at the China Centre at Oxford University.

Hong Kong-listed shares of Chinese real estate developer Kaisa Group Holdings were halted on Friday after news that it had missed a payment on a wealth management product. This came on the back of the protracted saga involving debt-ridden developer China…


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