The measures the #CCP announced are intended to make it easier for Chinese people to access capital and buy property, but access to debt is not the problem here. People in the country do not want to spend money because they are already sitting on large amounts of #RealEstate debt tied to declining properties. #China #PropertyMarketCrisis

#XiJinping just fired his giant money cannon at the wrong target
https://www.msn.com/en-us/money/markets/xi-jinping-just-fired-his-giant-money-cannon-at-the-wrong-target/ar-AA1rp3Yj?ocid=emmx-mmx-feeds&PC=EMMX01

Judgement day for #PriceWaterhouseCooper (#PwC).
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The auditor #PwC #China has reportedly told clients that it expects to receive a six-month ban from Chinese authorities, and potentially a large fine, as a punishment for its role in auditing the collapsed property developer #Evergrande.

#PropertyMarketCrisis

PwC expecting six-month #ChinaBan over Evergrande audit
https://www.bbc.com/news/articles/c1w78rwlqvxo?utm_source=press.coop

#BEIJING (Reuters) - #China’s sputtering economy has prompted a dire, new shorthand online for #pessimism about the prospects for any turnaround for #jobs, #incomes and #opportunity: “the garbage time of history.”

#PropertyMarketCrisis

#GarbageTime': China’s slump spins out new meme of #EconomicDespair
https://uk.finance.yahoo.com/news/garbage-time-china-slump-spins-080457372.html

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#China's #exports topped forecasts month in May, but experts say the jury is still out on whether the export sales are sustainable. Specially because of growing #TradeTensions between China and the US/Europe.

Meanwhile, a protracted #PropertyMarketCrisis continues to drag on domestic demand.

China's factories seen extending activity declines in June: Reuters Poll
https://www.reuters.com/markets/asia/chinas-factories-seen-extending-activity-declines-june-2024-06-27/

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#Japan's #akiya (abandoned homes) have ballooned to nine million as of October 2023, accounting for nearly 14% of all homes in the country. The number is set to increase as Japan's population shrinks, ages, and moves from rural to urban dwellings. #AgingPopulation #PropertyMarketCrisis

Japan's glut of abandoned, derelict homes created so many eyesores and safety hazards it's making the #PropertyMarket bleed billions
https://www.businessinsider.com/japan-akiya-abandoned-homes-property-market-bleeding-billions-2024-6?op=1

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#Policymakers have been attempting to rein in the oversupply of housing, and support debt-laden developers since the real property market went into freefall in 2020, hit by the #pandemic and a sudden #RegulatoryCrackdown on indebted lenders.

But the #PropertyGlut is still holding down prices despite all government attempts to revive market. #PropertyMarketCrisis

#China new #HomePrices drop at fastest rate in nearly a decade
https://www.theguardian.com/business/article/2024/jun/17/china-new-home-prices-fall-property-market

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#Property long served as a vital growth engine as #China developed to become the world's second-largest economy but in 2020, regulatory curbs on #ExcessiveBorrowing and #speculation narrowed access to credit.

#MountingDebt and #StalledConstruction have plagued the sector's leading firms since. #PropertyMarketCrisis #YouthUnemployment #AgingPopulation

China waits anxiously for economic plan as gloom reigns
https://finance.yahoo.com/news/china-waits-anxiously-economic-plan-032845643.html

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Right on the money. China's cratering home sales is going to sink their economy otherwise.
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"Without a strong consumer base, #China can never be the superpower he (#XiJinPing) wants it to be." #PropertyMarketCrisis #YouthUnemployment

#Bloomberg Opinion: Is China's Economic Priority Shifting? [VIDEO]
https://www.msn.com/en-gb/money/other/bloomberg-opinion-is-china-s-economic-priority-shifting/vi-BB1mT9kV?ocid=emmx-mmx-feeds&PC=EMMX01

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Shares of Chinese developers wobbled on Monday (May 20) as investors fretted that #China's "historic" steps to stabilize its crisis-hit #PropertySector fell short of what is required to foster a sustainable turnaround in demand and confidence. Francis Maguire reports. #PropertyMarketCrisis

China's property support measures disappoint [VIDEO]
https://www.msn.com/en-us/money/realestate/china-s-property-support-measures-disappoint/vi-BB1mInB2?ocid=emmx-mmx-feeds&PC=EMMX01

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Analysts said the central government's decision to step in as a buyer marked an important step but noted that the size of financing on offer pales in comparison to the estimated trillions of yuan worth of #HousingInventory across the country. #PropertyMarketCrisis

#China's #PropertySupport measures disappoint, developers' shares falter
https://www.msn.com/en-us/money/markets/china-s-property-support-measures-disappoint-developers-shares-falter/ar-BB1mJ5Yz?ocid=emmx-mmx-feeds&PC=EMMX01

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