Economic activity in China has been lacklustre this year, due to relatively soft credit data, continued weakness in the property sector and a worrying surge in Covid-19 infection rates – which prompted lockdown in certain key provinces.
Despite this, they have been encouraged by a marked change in rhetoric and policy from the top echelon of the Chinese government, with suggestions monetary policy should be eased as required and moderate loan growth is needed to support the real economy. In addition, the authorities want property developer risk to be managed, while regulation around internet platforms needs to be swiftly completed for the stability and healthy development of the platform economy. Positive property reform agenda Residential real estate development directly accounts for about 10% of GDP, and the slowdown...
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