A cluster of residential buildings under construction in Shijiazhuang, capital of north China's Hebei province. It will take 3 to 5 years to clear unsold flats in second and third tier cities, according to Nomura. Photo: Xinhua
Hopes that property investment will lift overall Chinese economy seen as fanciful, say analysts
With China’s exports plunging more than 25 per cent in February, the real estate sector is being seen as the new economic driver, but industry analysts are sceptical
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A cluster of residential buildings under construction in Shijiazhuang, capital of north China's Hebei province. It will take 3 to 5 years to clear unsold flats in second and third tier cities, according to Nomura. Photo: Xinhua