{"id":8859,"date":"2023-08-20T22:00:57","date_gmt":"2023-08-20T22:00:57","guid":{"rendered":"https:\/\/imsfund.com\/?p=8859"},"modified":"2023-08-20T22:00:57","modified_gmt":"2023-08-20T22:00:57","slug":"chinas-property-troubles-worsen-ramping-calls-for-bolder-policy-help","status":"publish","type":"post","link":"https:\/\/imsfund.com\/index.php\/2023\/08\/20\/chinas-property-troubles-worsen-ramping-calls-for-bolder-policy-help\/","title":{"rendered":"China’s property troubles worsen, ramping calls for bolder policy help"},"content":{"rendered":"


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Aerial photo shows a rural residential area in Chengdong town of Hai ‘an City, East China’s Jiangsu Province, April 1, 2023.<\/p>\n

Future Publishing | Future Publishing | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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China’s real estate troubles are accelerating. Prospective home buyers are holding back<\/a> on making purchases, leading to weak sales that compound the urgent need for policymakers to step up support for the industry.<\/p>\n

New home sales for the top 100 developers dropped by about a third in June and July from a year ago, after double-digit growth earlier in the year, said Edward Chan, a director at S&P Global Ratings. With most apartments in China sold before they are completed<\/a>, weak new home sales will likely lead to significant cash flow issues for developers.<\/p>\n

“We think the situation is probably getting a little bit worse because of this Country Garden incident,” Chan told CNBC in a phone interview Thursday. He added he hasn’t seen any improvement in new home sales so far.<\/p>\n

At a time when rafts of data are pointing to a rapidly slowing economy<\/a>, this lack of improvement, along with Country Garden<\/a>