Viewpoints China Steps Up Property Support: Is This the Turning Point for the Struggling Sector? China’s introduction of comprehensive support for its real estate sector could provide some cyclical relief amidst longer-term headwinds, but new COVID-19 waves cloud the outlook.
A slew of recent measures issued by China’s central government to rescue its property sector have, in PIMCO’s view, limited the downside risks to the country’s cyclical growth outlook.In the latest boost for the industry, on 28 November, the China Securities Regulatory Commission (CSRC) opened up equity financing options for Chinese developers, including lifting a years-long ban on private share sales and allowing mergers and acquisitions. To Read the Full Article Log In Or Register
Viewpoints Asia Market Outlook 2023: Regional Resilience Amid Strained Global Markets As the COVID-19 recovery continues, we expect Asia’s growth-inflation dynamics to diverge from the rest of the world, led by China’s long-awaited economic reopening.
Blog Continuity and Concrete Direction: Takeaways From China’s 20th Party Congress Stability, security and self-reliance were overarching themes from China’s twice-a-decade leadership reshuffle. With few details disclosed on near-term supporting policies, we remain cautious on the Chinese market.
Viewpoints Local Government Financing Vehicles: A Growing Risk for China’s Economy? We believe idiosyncratic credit events may occur over the next 12 months, but systemic bank risk is remote.