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The headline number of Chinese property sales remains awful.
Stimmies to the rescue! MS.
China launched a RMB15tn five-year urban-renewal programme covering 115,000 ageing communities and c.500,000 dilapidated homes, while cities increased smaller land supply. Beijing cut non-local buyers’ social-security requirement within the Fifth Ring Road to one year and raised the maximum provident-fund loan to RMB3.4mn; 7M26 judicial-auction transactions rose over 40% while prices fell 9% YoY.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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