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China Housing Policy: Corporate Welfare, Yes. Market Rescue? Er ...
The main thrust of China's new property policy announcements is to get more money to beleaguered developers, in line with earlier support packages. But this doesn't make it a "market rescue" per se. Reducing inventories, cutting mortgage rates and down-payment ratios again can't hurt - but they don't directly boost sales, and the underlying demand trend is still weakening, with a notional shortfall that is many multiples of current package announcements. We'll be watching sales data over the coming quarters, but we're not holding our breath.
China Housing Policy: Corporate Welfare, Yes. Market Rescue? Er ... (PDF)
Corporate Chartbook
Our semi-annual guide to EM listed corporate trends by charts and data.
EM Corporate Charbook (2022 Edition)How To Think About Emerging Markets (2024 Edition)
An opinionated guide to emerging markets
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Who Makes It, Who Doesn't (How to Think About Emerging Markets 2024 Edition, Part 3)
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Explaining the Miracle (How to Think About China 2023 Edition, Part 3)
The Most Important Sector in the Universe (How to Think About China 2023 Edition, Part 4)
Debt Boom and Debt Bust (How to Think About China 2023 Edition, Part 5)
Is There a New Growth Model? (How to Think About China 2023 Edition, Part 6)
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The Aging of China (How to Think About China 2023 Edition, Part 8)
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