Here’s Everything China Is Doing to Save Its Property Market
China unleashed a slew of measures to halt a slide in the country’s residential property and shore up its ailing economy.
Beijing’s 5% growth target is at risk, while the real estate slump has increased dangers to the nation’s financial system. Sales by the country’s largest developers fell 34% in August from a year earlier, and Country Garden Holdings Co. — once the nation’s largest by sales — is on the brink of default.