China’s repeated attempts to tackle its worsening property crisis resemble firework displays — full of light and sound, quickly extinguished.
Property stock prices have burst upwards with each new set of government measures to boost the market, only to collapse shortly thereafter. This week’s rally should not differ.
Shenzhen, one of the most expensive cities in China, offered new edicts to lower downpayment ratios and relax other regulations from Thursday, according to state-run media. Beijing is also expected to provide more financial support for struggling developers in coming weeks.
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