Real Estate

China’s real estate crisis isn’t over yet, IMF says

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China’s real estate market has slumped in the last two years after Beijing cracked down on developers’ high reliance on debt for growth.

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BEIJING — China needs to do more in order to fix its real estate problems, the International Monetary Fund said Friday.

The property market contributes to about a quarter of China’s GDP and has been a drag on growth, especially since Beijing cracked down on developers’ high reliance on debt in 2020.

Chinese authorities started to ease restrictions on financing for the sector over the last several months.

“Authorities’ recent policy measures are welcome, but in our view additional action will be needed in…



Source cnbc.com

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