From Bricks to Banks — China's Real Estate Crisis
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China has announced additional relaxations in mortgage policies aimed at stopping the decline in its housing market and revitalising growth in the world's second-largest economy. The proposal suggests that local governments can eliminate a regulation barring individuals, even those who've fully repaid previous mortgages, from being classified as first-time homebuyers in major cities. The Ministry of Housing and Urban-Rural Development, the People’s Bank of China and the National Administration of Financial Regulation are cited as proponents of this policy shift. Undoubtedly, this policy is a positive and supportive measure for housing demand.
BYD's "Race" to Become Global
BYD's Chairman and CEO, Wang Chuanfu, calls for domestic car manufacturers to unite in expanding abroad, seeking to boost recognition and acceptance of China's unique new energy vehicles in wider global markets.
Road to Recovery
Against the backdrop of an economic downturn, there's a notable strong rebound in the overall volume of China's consumer market. This unexpected surge might be attributed to the suppression caused by the three-year-long pandemic. The market shows an overall downward trend, with increased consumer spending in third- and fourth-tier cities and a prevailing tendency toward lower average transaction values.
A Quest for Peace
High-level exchanges between China and the U.S. are resuming, suggesting potential internal divisions within the U.S. government regarding its stance on China. Amidst the backdrop of Sino-U.S. rivalry, life in both countries has become less prosperous than before. Hence, China and the U.S. aim to ease the tense standoff through negotiations slightly. Whether it's a temporary truce or a resolution, the resumption of dialogue is a positive signal.