A farmer walks in front of a construction site of new residential buildings in Hangzhou, Zhejiang province. Photo: Reuters A farmer walks in front of a construction site of new residential buildings in Hangzhou, Zhejiang province. Photo: Reuters
A farmer walks in front of a construction site of new residential buildings in Hangzhou, Zhejiang province. Photo: Reuters

House of cards: property glut could spell doom for Chinese economy

The Chinese economy has a long history of proving its doubters wrong. But a growing number of experts are wondering whether this time the doubters might be on to something. Beijing’s goal for 2016 is to keep growth ticking over at around 6.5 per cent but four issues, like horsemen of an economic apocalypse, are threatening those plans: industrial overcapacity, heavy business taxes, sky-high property inventories and financial risks. We examine each threat in a four-part series that starts today. Zhou Xin explores the real estate ambitions that have fallen to ruin in Anyang, Henan province.

Topic |   China economy
A farmer walks in front of a construction site of new residential buildings in Hangzhou, Zhejiang province. Photo: Reuters A farmer walks in front of a construction site of new residential buildings in Hangzhou, Zhejiang province. Photo: Reuters
A farmer walks in front of a construction site of new residential buildings in Hangzhou, Zhejiang province. Photo: Reuters
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