Name: China economic focus August 2023: policy flop fails property market
Brand: Wood Mackenzie
SKU: 157435
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Insight 28 August 2023

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            <h3 class="mega store_featured_content_extrabold store_font_black">Report summary</h3>
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China's property market has been in recession since late 2021 but supportive measures so far have failed to revive it. Home buyers lack confidence in either property or the overall economy and are reducing their exposure to the property sector. Relaxing the housing policy in tier 1 cities could prove a fillip for property developers. However, it will only have a marginal impact on demand for construction-related commodities. The current recession will stabilise in 2024 but the negative impact on commodity demand could last until 2026. Over the medium term, slowing urbanisation means property completions will trend downwards.</div>
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<li class="list__item-toggle font-semibold">
        Executive summary
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<li class="list__item-toggle font-semibold">
        Supportive measures fail to revive China's property market
    </li>

<li class="list__item-toggle font-semibold">
        Unintended consequences of lower interest rates
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<li class="list__item-toggle font-semibold">
        Room for further relaxing of home purchase restrictions
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        Property completions will trend down
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        Appendix
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<h3 class="alpha push-half--bottom">Tables and charts</h3>

<p class="push-half--bottom">This report includes the following images and tables:</p>

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         <li class="list__item push-quarter--bottom">Mortgage rate dropped since 2022</li><li class="list__item push-quarter--bottom">Outstanding mortgage loans dropped while consumer loans increased</li><li class="list__item push-quarter--bottom">New home sales, Nanjing</li>
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            <li class="list__item push-quarter--bottom">New home sales, Shaoguan</li><li class="list__item push-quarter--bottom">Newly urbanised population</li><li class="list__item push-quarter--bottom">Urban housing completion</li><li class="list__item push-quarter--bottom">Wood Mackenzie's proprietary China data</li><li class="list__item push-quarter--bottom">Manufacturing PMI</li><li class="list__item push-quarter--bottom">Industrial production and retail sales</li><li class="list__item push-quarter--bottom">Trade</li><li class="list__item push-quarter--bottom">Inflation</li><li class="list__item push-quarter--bottom">Investment</li>
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<p class="font-regular" >China economic focus August 2023: policy flop fails property market</p>
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