Amidst a reevaluation of financial risks and environmental costs, Chinese leaders are reaffirming their commitment to structural transformation in the real estate sector. The focus is now shifting towards directing resources to more productive sectors like emerging technologies.
While policies to boost domestic demand have been introduced, they are more restrained compared to past stimulus packages, as authorities try to balance promoting spending without exacerbating the real estate bubble.
The government is keen on averting a crisis in the real estate market and will implement measures to stabilize it. The sector’s decline highlights the need for a long-term strategy to ensure a robust housing market in China.
This situation might expedite the transformation of the real estate market to align with the new phase of economic growth in China.
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