China's Property Sector Crisis
Gary Ng, APAC Economist, Natixis
25-Jul-22 07:30
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The dust is far from settled in China’s property sector, after the collapse of property giant Evergrande last year. In the latest turn of events, large numbers of homebuyers in China are withholding mortgage payments for homes that property developers have yet to complete. With China’s economy seeing a marked slowdown stemming from Beijing’s Zero-Covid policy amid an ongoing outbreak of cases, what are the implications of a property sector meltdown, which makes up some 25% of China’s GDP? Economist Gary Ng breaks down the issue.
Image Credit: Fabio Nodari / Shutterstock.com
Produced by: Shazana Mokhtar
Presented by: Shazana Mokhtar, Philip See, Wong Shou Ning
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Categories: markets, international, economy
Tags: china mortgage boycott, evergrande, zero covid policy,