Insight
China economic focus September 2021: default risk rocks property market
Report summary
China’s property market is experiencing default risks, originating from a financial crisis at leading property developer China Evergrande. The situation is the result of the government tightening housing policies with the intention to rein in speculative housing demand, and to shift the growth driver of the economy from investment to consumption. In the long term, property market fundamentals will remain robust but urban housing completions will peak in 2022. The demand trajectory for commodities related to property construction, including steel, copper, coal and natural gas, varies based on their different applications in this sector.
Table of contents
- Highlights
- Why is the government tightening housing policy?
- Peak housing construction
- Varied demand trajectory for different commodities
- Appendix
Tables and charts
This report includes 16 images and tables including:
- Primary demand vs investment demand
- Debt level rises for developers and households
- Urban housing completion
- Newly urbanised population
- International benchmarking of living floor space per capita
- Steel vs copper
- Coal vs natural gas
- Wood Mackenzie's proprietary China data
- Manufacturing PMI
- IP and retail sales
- Trade
- Inflation
- Property
- Investment
- Money supply (M2)
- Required reserve ratio
What's included
This report contains:
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