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China's property sector crisis can be contained
The sector is in disarray after several large property developers defaulted on their bonds amid the Covid-19 pandemic and because government policies to control debt squeezed their liquidity.
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China's property sector is in disarray after several large property developers defaulted on their bonds.
PHOTO: BLOOMBERG
Bert Hofman
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In the last week of July, the politburo of the Communist Party of China is set to meet to discuss economic policies before the leadership takes off to coastal Beidaihe to discuss political matters.
The politburo has a lot to talk about. Second-quarter gross domestic product (GDP) growth was barely positive at 0.4 per cent year on year, and achieving the government's 5.5 per cent target now seems increasingly difficult.
