https://www.scmp.com/rss/318785/feed en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Mia Nurmamat Mia Nurmamat Property tycoon Pan Shiyi issued a rare critique of China’s real estate sector, describing its development model as a “Ponzi scheme” and urging the industry to restore integrity and better protect homebuyers, just days after a fraud trial saw a guilty plea from the founder of China Evergrande – the US$300 billion debt juggernaut whose 2021 collapse triggered a systemic property meltdown. Writing from the United States on Thursday via his personal WeChat account, Pan reflected on the trajectory... https://www.scmp.com/economy/china-economy/article/3350448/tycoon-pan-shiyi-slams-china-property-ponzi-evergrande-boss-pleads-guilty?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3350448/tycoon-pan-shiyi-slams-china-property-ponzi-evergrande-boss-pleads-guilty?utm_source=rss_feed Fri, 17 Apr 2026 09:00:22 +0000 Zhu Wenqian Zhu Wenqian Mainland China’s first-tier home prices edged up 0.2 per cent in March, rising after nine months of losses and no change in February, but it is too soon to declare the property market stable without sustained improvement in homebuying demand, according to analysts. Compared with a month earlier, March home prices were flat in Beijing, rose 0.3 per cent in Shanghai and Guangzhou, and gained 0.2 per cent in Shenzhen, according to data released by the National Bureau of Statistics (NBS) on... https://www.scmp.com/business/article/3350276/new-home-prices-chinas-biggest-cities-record-first-rise-10-months?utm_source=rss_feed https://www.scmp.com/business/article/3350276/new-home-prices-chinas-biggest-cities-record-first-rise-10-months?utm_source=rss_feed Thu, 16 Apr 2026 07:00:20 +0000 David Tingxuan Zhang David Tingxuan Zhang For years, China’s embattled real estate sector has been framed as a terminal drag on the economy – a deflating bubble that policymakers are unwilling to rescue but unable to ignore. That framing misses what is happening. The absence of a large bailout is not so much a sign of the leadership’s indifference as a deliberate choice. It points to something more consequential than short-term market stabilisation: a systemic effort to redesign the sector’s role in the macroeconomy. The old development... https://www.scmp.com/opinion/china-opinion/article/3347891/reinflate-property-sector-no-china-wants-ambitious-redesign?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3347891/reinflate-property-sector-no-china-wants-ambitious-redesign?utm_source=rss_feed Wed, 01 Apr 2026 21:30:07 +0000 Daniel Ren Daniel Ren Transactions of pre-owned homes in major Chinese cities led by Shanghai surged in March, fuelling expectations that the country’s embattled property sector may be stabilising. Analysts and brokers said a more active resale market pointed to a gradual return of confidence among homebuyers after a three-year downturn. In Shanghai, about 22,000 second-hand homes changed hands between March 1 and 23, up 170 per cent from the same period a month earlier, according to data from local financial outlet... https://www.scmp.com/business/banking-finance/article/3348255/rising-second-hand-home-sales-offer-tentative-signs-floor-chinas-property-slump?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3348255/rising-second-hand-home-sales-offer-tentative-signs-floor-chinas-property-slump?utm_source=rss_feed Sun, 29 Mar 2026 06:00:34 +0000 Daniel Ren Daniel Ren China’s more than 100,000 home furnishing companies - most of which are micro businesses - have entered a tumultuous phase as a property slump and persistent deflationary pressure prevent them from making profits. With no property resurgence in sight, the industry, which employs millions of labourers across the country, was likely to see thousands of players expelled from the highly competitive market this year, according to company officials and analysts. “Involution is the name of the game in... https://www.scmp.com/business/companies/article/3343827/sofa-so-bad-chinas-home-furnishing-sector-hits-do-or-die-moment?utm_source=rss_feed https://www.scmp.com/business/companies/article/3343827/sofa-so-bad-chinas-home-furnishing-sector-hits-do-or-die-moment?utm_source=rss_feed Wed, 18 Feb 2026 02:00:09 +0000 Zhu Wenqian Zhu Wenqian Local government support has lifted sentiment in China’s struggling property sector ahead of the spring sales season, but analysts remain divided on the outlook as structural pressures persist. New and existing home prices across 70 major mainland cities fell at a slower pace month on month in January, while annual declines widened, according to data released by the National Bureau of Statistics (NBS) on Friday. New home prices in the four tier-one cities dropped 2.1 per cent year on year, 0.4... https://www.scmp.com/business/article/3343581/policy-backing-steadies-china-property-outlook-full-rebound-still-elusive?utm_source=rss_feed https://www.scmp.com/business/article/3343581/policy-backing-steadies-china-property-outlook-full-rebound-still-elusive?utm_source=rss_feed Sun, 15 Feb 2026 01:30:13 +0000 Zhu Wenqian Zhu Wenqian Mainland China’s new and existing home prices posted a smaller month-on-month decline in January, but the annual drop widened, indicating a housing market that has yet to find a clear floor, analysts said. Commercial residential prices across 70 major cities fell at a slower pace from December on a monthly basis, while new-home prices in the four tier-one cities dropped 2.1 per cent year on year, 0.4 percentage points steeper than the previous month, according to data released by the National... https://www.scmp.com/business/article/3343442/china-housing-market-shows-no-clear-turning-point-price-declines-continue?utm_source=rss_feed https://www.scmp.com/business/article/3343442/china-housing-market-shows-no-clear-turning-point-price-declines-continue?utm_source=rss_feed Fri, 13 Feb 2026 07:00:44 +0000 Zhu Wenqian Zhu Wenqian In a move to bolster the stability of the property market, Shanghai unveiled a plan to buy second-hand homes for use as public rental housing, with the move timed to coincide with the opening of the city’s annual “two sessions” meetings. With the official launch of a pilot programme on Monday, the city aims to meet rental demand from young residents including college students and new urban arrivals. The initiative will roll out first in the downtown districts of Pudong, Jing’an and Xuhui. Backed... https://www.scmp.com/business/article/3342204/shanghai-buy-second-hand-homes-rental-housing-pilot-support-property-market?utm_source=rss_feed https://www.scmp.com/business/article/3342204/shanghai-buy-second-hand-homes-rental-housing-pilot-support-property-market?utm_source=rss_feed Tue, 03 Feb 2026 06:45:34 +0000 Cao Li Cao Li Home prices in mainland China continued to decline at a rapid pace in December, posing challenges for an economy that is struggling to find new growth drivers. New home prices fell 0.4 per cent month on month on average across 70 cities, according to data from the National Bureau of Statistics (NBS) on Monday. The fall matched November’s drop and was among the steepest in more than a year. Prices slipped 3 per cent year on year in December, accelerating from a 2.8 per cent drop in November. Only... https://www.scmp.com/property/article/3340369/mainland-chinas-home-prices-extend-slide-adding-strain-struggling-property-sector?utm_source=rss_feed https://www.scmp.com/property/article/3340369/mainland-chinas-home-prices-extend-slide-adding-strain-struggling-property-sector?utm_source=rss_feed Mon, 19 Jan 2026 04:14:19 +0000 Michael Han Michael Han For years, Beijing attempted to trade flats for microchips, a bold effort to rewire the economy. But 2025 showed that a hi-tech superstructure cannot be built on the crumbling foundation of a middle-class balance sheet. Now, in the opening 2026 issue of Qiushi, the Communist Party’s most influential journal, a new signal has emerged, indicating that the leadership is prepared to halt the decline. A key commentary in the journal presents a notable analytical shift. It reaffirms real estate as a... https://www.scmp.com/opinion/china-opinion/article/3339640/china-set-double-down-property-market-stability?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3339640/china-set-double-down-property-market-stability?utm_source=rss_feed Wed, 14 Jan 2026 08:30:15 +0000 Cao Li Cao Li China’s top real estate developers continue to shrink, according to industry data. The number of mainland property developers achieving annual contracted sales of at least 100 billion yuan (US$14 billion) dropped to just 10 in 2025 from a peak of 43 in 2020, research firm China Real Estate Information Corporation (CRIC) said in a report on Sunday. Among the top 10 developers, only one, China Jinmao Holdings, reported year-on-year growth in sales, according to CRIC. The ranks of developers in the... https://www.scmp.com/business/article/3338893/chinas-developers-diminish-further-amid-unending-property-downturn?utm_source=rss_feed https://www.scmp.com/business/article/3338893/chinas-developers-diminish-further-amid-unending-property-downturn?utm_source=rss_feed Tue, 06 Jan 2026 07:30:11 +0000 Daniel Ren Daniel Ren The slumbering property sector remains a threat to China’s economic growth because of its huge impact on the employment rate and consumer demand, according to industry officials and analysts. Amid sharp declines in property investment, housing sales and home prices last year, a further downturn of the significant sector may put more developers, workers, homebuyers and banks at risk. In the first 11 months of 2025, new properties worth 7.5 trillion yuan (US$1.07 trillion), comprising units for... https://www.scmp.com/business/banking-finance/article/3338662/property-industry-remains-enemy-within-beijings-economic-targets?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3338662/property-industry-remains-enemy-within-beijings-economic-targets?utm_source=rss_feed Sun, 04 Jan 2026 07:30:16 +0000 Zhu Wenqian Zhu Wenqian China will lower value-added tax (VAT) on individual home resales from January 1, but while the measure has drawn interest from consumers, property agents have said most remain cautious and are adopting a wait-and-see approach. The policy would work to a certain extent, but its ability to revive the housing market was likely to be limited, they added. Individuals selling residential properties within two years of purchase would now be subject to a VAT rate of 3 per cent, down from 5 per cent,... https://www.scmp.com/business/banking-finance/article/3338284/china-housing-market-gets-vat-relief-resales-demand-outlook-stays-subdued?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3338284/china-housing-market-gets-vat-relief-resales-demand-outlook-stays-subdued?utm_source=rss_feed Wed, 31 Dec 2025 09:30:12 +0000 Enoch Yiu Enoch Yiu Mainland China will cut or waive value-added tax (VAT) on the resale of homes by individuals from Thursday, in its latest move to shore up a property market that has been stuck in a prolonged slump. Under the new rules, individuals who sell a residential property within two years of buying it will pay VAT at 3 per cent, down from 5 per cent, according to a joint statement released on Tuesday by the Ministry of Finance and the State Taxation Administration. The policy does not apply to corporate... https://www.scmp.com/business/article/3338209/beijing-trims-property-resale-tax-fresh-push-stabilise-housing-market?utm_source=rss_feed https://www.scmp.com/business/article/3338209/beijing-trims-property-resale-tax-fresh-push-stabilise-housing-market?utm_source=rss_feed Tue, 30 Dec 2025 16:25:51 +0000 Cao Li Cao Li Home prices in mainland China continued to decline at a rapid pace in November, posing challenges for policymakers who have vowed to stem a years-long downturn. New home prices fell 0.4 per cent month on month on average across 70 cities, according to data from the National Bureau of Statistics (NBS) on Monday. The decline eased slightly from a 0.5 per cent fall in October, but it was among the steepest in more than a year. Prices slipped 2.8 per cent year on year in November, compared with a... https://www.scmp.com/business/article/3336438/chinas-home-prices-slide-further-november-authorities-vow-stabilise-sector?utm_source=rss_feed https://www.scmp.com/business/article/3336438/chinas-home-prices-slide-further-november-authorities-vow-stabilise-sector?utm_source=rss_feed Mon, 15 Dec 2025 05:19:54 +0000 Mia Nurmamat Mia Nurmamat Shanghai has launched a crackdown on online content that talks down the property market, as the sector remains mired in a prolonged downturn and two leading data providers pull back on releasing updated sales figures for China’s top developers. The Shanghai branch of the Cyberspace Administration of China said it had instructed platforms including RedNote and Bilibili – often dubbed China’s answer to Instagram and YouTube – to remove content deemed to be spreading misleading or alarmist... https://www.scmp.com/economy/china-economy/article/3335083/shanghai-launches-clampdown-property-market-doom-mongering?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3335083/shanghai-launches-clampdown-property-market-doom-mongering?utm_source=rss_feed Wed, 03 Dec 2025 14:00:10 +0000 Cao Li Cao Li The decline in China’s home prices is accelerating, with new home prices in October – traditionally a peak month for sales – falling at the fastest pace in 12 months across the country despite government support, as the economy slows and job prospects remain uncertain. New home prices fell 0.5 per cent month on month on average across 70 sampled cities, according to National Bureau of Statistics data released on Friday. It was the steepest drop since the 0.7 per cent fall in September last year.... https://www.scmp.com/business/article/3332746/chinas-housing-slide-deepens-october-prices-fall-fastest-pace-year?utm_source=rss_feed https://www.scmp.com/business/article/3332746/chinas-housing-slide-deepens-october-prices-fall-fastest-pace-year?utm_source=rss_feed Fri, 14 Nov 2025 04:18:32 +0000 Daniel Ren Daniel Ren Stronger stimulus measures are needed to halt the decline in China’s embattled property sector, as Beijing aims to guide the national economy towards a stable and healthy trajectory, according to Citigroup. An incentive package – including interest rate reductions, tax cuts, further relaxation of home purchase restrictions and the buy-back of idle land – could help revitalise the real estate industry, said Yu Xiangrong, Citi’s chief economist for Greater China, during a media briefing in... https://www.scmp.com/business/money/article/3332651/chinas-property-sector-needs-stronger-stimulus-citigroup-economist?utm_source=rss_feed https://www.scmp.com/business/money/article/3332651/chinas-property-sector-needs-stronger-stimulus-citigroup-economist?utm_source=rss_feed Thu, 13 Nov 2025 10:45:10 +0000 David Tingxuan Zhang David Tingxuan Zhang Few outside China might know that e-commerce giants Alibaba and JD.com host the country’s largest online platforms for distressed property sales. On any given day, their auction websites offer a front-row view of China’s housing downturn where properties are foreclosed and liquidated under court orders, often at market-shaking discounts. A month ago, 66 flat units in a Shanghai project owned by indebted developer Sunac were put up for auction after being seized by courts. Buyers were found but... https://www.scmp.com/opinion/china-opinion/article/3330176/amid-wave-foreclosures-chinas-homeowners-could-use-break?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3330176/amid-wave-foreclosures-chinas-homeowners-could-use-break?utm_source=rss_feed Sat, 25 Oct 2025 21:30:07 +0000 Salina Li Salina Li China’s new home prices fell at the fastest pace in 11 months in September across 70 major cities despite easing policies, as high inventories, concerns over job security and economic uncertainty continued to hurt confidence in the property market, analysts said. New home prices fell 0.4 per cent month on month, following a 0.3 per cent decline in August, according to National Bureau of Statistics (NBS) data released on Monday. It was the biggest monthly decline since last October’s 0.5 per cent... https://www.scmp.com/business/article/3329662/chinas-new-home-prices-slump-fastest-pace-11-months-amid-dented-buyer-confidence?utm_source=rss_feed https://www.scmp.com/business/article/3329662/chinas-new-home-prices-slump-fastest-pace-11-months-amid-dented-buyer-confidence?utm_source=rss_feed Mon, 20 Oct 2025 08:06:44 +0000 Cao Li Cao Li China’s years-long real estate downturn is slowing growth and forcing China’s property managers to look for new sources of income, from accompanying the elderly to doctor appointments to walking dogs. Recently, a property manager in Wuhan, capital of central Hubei province, looked after a family’s pet chickens while they were away, according to a post from the sprawling city’s property management association. The manager fed them, moved them to an air-conditioned room following signs of... https://www.scmp.com/business/article/3328536/chinas-property-managers-pivot-elderly-services-and-pet-care-amid-real-estate-woes?utm_source=rss_feed https://www.scmp.com/business/article/3328536/chinas-property-managers-pivot-elderly-services-and-pet-care-amid-real-estate-woes?utm_source=rss_feed Sun, 12 Oct 2025 03:00:09 +0000 Mandy Zuo Mandy Zuo With China’s three most economically important cities recently rolling out policies to address renewed weakness in the property sector, analysts say stabilising the industry would be significant in terms of boosting consumer sentiment, but that no quick market rebound should be expected. After Beijing, north China’s biggest population centre, lifted purchase limits outside its Fifth Ring Road and eased housing fund rules in early August, Shanghai and Shenzhen followed suit with similar policies... https://www.scmp.com/economy/china-economy/article/3327455/can-easing-property-curbs-3-big-cities-help-give-chinese-consumption-boost?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3327455/can-easing-property-curbs-3-big-cities-help-give-chinese-consumption-boost?utm_source=rss_feed Thu, 02 Oct 2025 01:00:13 +0000 He Huifeng He Huifeng In Xingyang, Henan province, a long-stalled project by Evergrande – the world’s most indebted real estate developer – lays bare two sharply contrasting realities. On social media, frustrated buyers who paid for their long-promised flats years ago plead for updates on their unfinished homes. Meanwhile, the project’s lavish sales hall has found a new lease of life: under its glittering chandeliers, production crews shoot family feuds and love triangles for China’s booming micro-drama industry. The... https://www.scmp.com/economy/china-economy/article/3326163/chinas-micro-drama-boom-turns-stalled-real-estate-projects-lavish-film-sets?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3326163/chinas-micro-drama-boom-turns-stalled-real-estate-projects-lavish-film-sets?utm_source=rss_feed Sun, 21 Sep 2025 07:00:09 +0000 Xinyi Wu,Ji Siqi Xinyi Wu,Ji Siqi China’s economy showed signs of strain in August, as sluggish domestic demand, headwinds from the US trade war and a prolonged property downturn continued to weigh on several major indicators. Retail sales, a major gauge of consumption, rose by 3.4 per cent in August from a year earlier, missing the 3.82 per cent forecast in a poll by financial data provider Wind and down from July’s 3.7 per cent growth, data from the National Bureau of Statistics (NBS) showed on Monday. Fu Linghui, spokesperson... https://www.scmp.com/economy/economic-indicators/article/3325524/chinas-economy-under-strain-august-retail-sales-industrial-output-miss-forecasts?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3325524/chinas-economy-under-strain-august-retail-sales-industrial-output-miss-forecasts?utm_source=rss_feed Mon, 15 Sep 2025 01:59:44 +0000 Daniel Ren Daniel Ren Shanghai, the commercial and financial hub of mainland China, has further relaxed its home purchase policy, following Beijing’s lead to rejuvenate the nation’s sluggish property market. Local residents could now own an unlimited number of flats outside the city’s outer ring road, an area where two-thirds of Shanghai’s housing is located, municipality authorities said on Monday. Previously, families were restricted to a maximum of two housing units in Shanghai. The mortgage rate for buyers of a... https://www.scmp.com/business/banking-finance/article/3323030/shanghai-relaxes-home-buying-rules-chinas-property-market-struggles?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3323030/shanghai-relaxes-home-buying-rules-chinas-property-market-struggles?utm_source=rss_feed Mon, 25 Aug 2025 05:37:23 +0000 Daniel Ren,Yuke Xie Daniel Ren,Yuke Xie Homebuyers in mainland China’s major cities are responding tepidly to new policy relaxations, anticipating further price drops amid an uncertain outlook for the sector. Analysts and potential buyers warn that the bearish sentiments might weaken the effectiveness of the stimulus measures aimed at reviving the stagnant property market “The market sentiment is terribly weak now, and the consensus among potential buyers is that prices will slide in the coming months if homeowners are eager to get... https://www.scmp.com/business/banking-finance/article/3322138/chinese-homebuyers-snub-government-incentives-they-bet-further-price-falls?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3322138/chinese-homebuyers-snub-government-incentives-they-bet-further-price-falls?utm_source=rss_feed Mon, 18 Aug 2025 01:30:16 +0000 Carol Yang Carol Yang A high-level Chinese official has called for easing property and other market restrictions to boost spending among the wealthy, as Beijing steps up efforts to stimulate consumption amid deflationary pressures. “Let the rich spend. This is the most direct [approach],” said Yin Yanlin, who was deputy director at the Office of the Central Financial and Economic Affairs Commission, a party organ overseeing economic policy, from 2018 to 2023. Yin, now a senior economic adviser in the Chinese People’s... https://www.scmp.com/economy/china-economy/article/3322014/china-told-remove-purchase-restrictions-set-mandatory-targets-spur-consumption?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3322014/china-told-remove-purchase-restrictions-set-mandatory-targets-spur-consumption?utm_source=rss_feed Fri, 15 Aug 2025 11:30:07 +0000 Mandy Zuo Mandy Zuo Shanghai, China’s commercial centre, will launch a wide-ranging initiative to redevelop urban villages next year, marking one of its most ambitious citywide renewal campaigns yet. The project, announced at a late July meeting of the city’s legislative body as part of a three-year plan, signals a broader and more intensive push to overhaul urban villages than previous efforts. As the nation’s financial hub and most populous city, Shanghai has the second-highest housing prices in mainland China... https://www.scmp.com/economy/china-economy/article/3321463/shanghai-plans-housing-upgrade-drive-boost-consumption-investment?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3321463/shanghai-plans-housing-upgrade-drive-boost-consumption-investment?utm_source=rss_feed Mon, 11 Aug 2025 09:29:45 +0000 He Huifeng He Huifeng The race for China’s provincial economy crown has turned red hot, with Jiangsu closing the gap with Guangdong through tech-driven growth. Jiangsu’s gross domestic product (GDP) now stands at 97.44 per cent of Guangdong’s, with the distance between the two provinces narrowing to 175.76 billion yuan (US$24.5 billion) in the first half of 2025 – compared to 191.62 billion yuan for the same period last year, according to data released by provincial authorities. That marks the closest margin in... https://www.scmp.com/economy/economic-indicators/article/3319135/chinas-jiangsu-province-narrows-gdp-gap-guangdong-tech-sectors-fuel-growth?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3319135/chinas-jiangsu-province-narrows-gdp-gap-guangdong-tech-sectors-fuel-growth?utm_source=rss_feed Tue, 22 Jul 2025 12:00:12 +0000 Xiaofei Xu Xiaofei Xu China's top leaders have raised concerns about excessive competition in the domestic market in recent weeks, signalling a shift in policy priorities. In a meeting chaired by President Xi Jinping on July 1, the Central Finance and Economic Affairs Commission said Beijing needs to “focus on key and difficult issues, regulate enterprises’ disorderly and low-price competition” and “guide enterprises to improve product quality and promote the orderly exit of outdated production capacity”. The... https://www.scmp.com/economy/china-economy/article/3318110/why-chinas-fight-against-excessive-competition-different-past-reforms?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3318110/why-chinas-fight-against-excessive-competition-different-past-reforms?utm_source=rss_feed Mon, 14 Jul 2025 05:57:19 +0000 Yuke Xie Yuke Xie Luxury home sales in Shanghai are defying a nationwide slump, as wealthy buyers snap up “safe haven” assets amid expectations of further price gains – a trend likely to continue given scarce inventory and rising land costs. In the first half of this year, the mainland’s financial capital led in transactions of premium homes, accounting for sales of 482 new homes priced above 50 million yuan (US$7 million), more than 80 per cent of the total across 30 cities, according to data compiled by China... https://www.scmp.com/business/article/3317431/shanghais-luxury-home-sales-boom-wealthy-buyers-flock-safe-haven-assets?utm_source=rss_feed https://www.scmp.com/business/article/3317431/shanghais-luxury-home-sales-boom-wealthy-buyers-flock-safe-haven-assets?utm_source=rss_feed Wed, 09 Jul 2025 00:30:07 +0000 Sylvia Ma Sylvia Ma Beijing’s latest push to curb price wars may help ease deflationary pressures, but analysts warn the current measures fall short of addressing deeper structural problems facing the world’s second-largest economy. China’s GDP deflator – a broad measure of prices across goods and services – has been negative since the second quarter of 2023, while consumer prices have fallen for four straight months year-on-year. To stop the deflationary spiral, Chinese authorities should address the cause: weak... https://www.scmp.com/economy/china-economy/article/3317239/china-urged-take-bolder-steps-tackle-price-wars-deflation-and-weak-demand?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3317239/china-urged-take-bolder-steps-tackle-price-wars-deflation-and-weak-demand?utm_source=rss_feed Mon, 07 Jul 2025 10:15:10 +0000 Brian Rhoads,Raymond Ma Brian Rhoads,Raymond Ma China’s central bank governor announced eight financial reforms, extending regulators’ efforts to boost the yuan’s role in global markets and support the economy. Opening an international operations centre for the digital yuan, creating a personal credit-rating provider and piloting tools designed to increase cross-border trade were among the measures unveiled by Pan Gongsheng at the Lujiazui Forum in Shanghai. Zhu Hexin, head of the nation’s foreign exchange regulator, also pledged to maintain... https://www.scmp.com/plus/article/3314905/china-plots-course-boost-yuan-versus-dominant-dollar?utm_source=rss_feed https://www.scmp.com/plus/article/3314905/china-plots-course-boost-yuan-versus-dominant-dollar?utm_source=rss_feed Wed, 18 Jun 2025 09:00:09 +0000 Yuke Xie Yuke Xie New home prices across major cities in mainland China weakened in May, extending the sequential monthly decline to two years as analysts warned Beijing’s stimulus measures were no longer effective in helping to end the crisis. Prices in 70 major cities fell 0.2 per cent, following a 0.1 per cent drop in April, according to data published by the government’s statistics bureau on Monday. New home prices retreated 4.1 per cent in May from a year earlier, narrowing from a 4.5 per cent decline in the... https://www.scmp.com/business/article/3314579/no-respite-chinas-property-crisis-new-home-prices-drop-24th-month?utm_source=rss_feed https://www.scmp.com/business/article/3314579/no-respite-chinas-property-crisis-new-home-prices-drop-24th-month?utm_source=rss_feed Mon, 16 Jun 2025 06:32:47 +0000 Yulu Ao Yulu Ao Shanghai’s high-end property market continues to buck the national downturn, with deep-pocketed buyers pouring capital into top-tier homes that are seen as value-preserving assets despite economic uncertainty, analysts said. Buyers snapped up all 64 units offered at One Central Park, a luxury development in the city’s core Huangpu district, on Wednesday, spending 4 billion yuan (US$556 million). Developed by Sunac China Holdings, Citic Group and Xinhu Group, the project is located in the city’s... https://www.scmp.com/business/china-business/article/3311551/hot-shanghai-property-market-defies-national-slump-luxury-units-sell-quickly?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3311551/hot-shanghai-property-market-defies-national-slump-luxury-units-sell-quickly?utm_source=rss_feed Sun, 25 May 2025 03:00:12 +0000 Yuke Xie Yuke Xie Home prices in major cities in mainland China stabilised, holding onto recent gains as lower borrowing costs and state-led measures to support developers helped inject confidence in the market. Prices of new homes in China’s four first-tier cities were unchanged in April from a month ago, following a 0.1 per cent rise in March, according to data covering 70 large and medium-sized cities published by the statistics bureau on Monday. Prices in second-tier cities were also unchanged, while those in... https://www.scmp.com/business/article/3310865/chinas-new-home-prices-stabilise-rate-cut-lifeline-funding-lift-market-confidence?utm_source=rss_feed https://www.scmp.com/business/article/3310865/chinas-new-home-prices-stabilise-rate-cut-lifeline-funding-lift-market-confidence?utm_source=rss_feed Mon, 19 May 2025 04:34:39 +0000 Yulu Ao Yulu Ao The impact of China’s latest measures aimed at boosting property market sentiment remains to be seen, as analysts cautioned that more needs to be done to revive buyer confidence and address structural weakness in the sector. The People’s Bank of China (PBOC), the China Securities Regulatory Commission, and the National Financial Regulatory Administration on May 7 unveiled 10 major monetary measures, one of which was a cut in interest rates on housing provident fund loans. The PBOC announced a... https://www.scmp.com/business/china-business/article/3309900/chinas-property-market-faces-uncertain-future-despite-historic-rate-cuts?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3309900/chinas-property-market-faces-uncertain-future-despite-historic-rate-cuts?utm_source=rss_feed Sun, 11 May 2025 22:00:56 +0000 Salina Li Salina Li China’s new-home prices fell for a 22nd straight month in March, but the declines continued to narrow as government support measures boosted housing transactions. Prices of new homes in 70 mainland cities declined 0.1 per cent month on month in March, the same as February, according to data released by the National Bureau of Statistics (NBS) on Wednesday. On an annual basis, prices fell 5 per cent, improving from the 5.2 per cent year-on-year drop in February. Second-hand home prices fell 0.2... https://www.scmp.com/business/article/3306724/chinas-new-home-prices-extend-decline-22nd-month-stimulus-offers-hope?utm_source=rss_feed https://www.scmp.com/business/article/3306724/chinas-new-home-prices-extend-decline-22nd-month-stimulus-offers-hope?utm_source=rss_feed Wed, 16 Apr 2025 05:02:49 +0000 Daniel Ren Daniel Ren High-end homes in Shanghai are selling out quickly, fuelling hopes of a recovery in the city’s property sector, as wealthy individuals bet on a continuing rise in prices. The average price of upscale flats in Shanghai in the first three months of the year rose 0.5 per cent to 144,600 yuan (US$19,769) per square metre from the previous quarter, according to JLL. Residential units priced at 100,000 yuan per square metre and above are defined as high-end, according to the property... https://www.scmp.com/business/china-business/article/3306345/insatiable-demand-high-end-homes-shanghai-sparks-hopes-broader-market-recovery?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3306345/insatiable-demand-high-end-homes-shanghai-sparks-hopes-broader-market-recovery?utm_source=rss_feed Mon, 14 Apr 2025 00:30:15 +0000 Daniel Ren,Yuke Xie Daniel Ren,Yuke Xie Investors are snapping up luxury homes in Shanghai in the 30 million yuan (US$4.2 million) plus range, as they expect super expensive homes in China’s commercial and financial hub to continue to buck the overall downward trend in the real estate market, according to market observers. But the rosy performance of this segment alone was not enough to bail out the city’s embattled property sector and the wider industry, they added. The recent buying euphoria was evident during the recent sale of... https://www.scmp.com/business/china-business/article/3304466/shanghais-luxury-property-market-thrives-while-downturn-persists-mass-housing-segment?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3304466/shanghais-luxury-property-market-thrives-while-downturn-persists-mass-housing-segment?utm_source=rss_feed Sun, 30 Mar 2025 10:14:17 +0000 Yulu Ao Yulu Ao China’s new-home prices fell for the 21st straight month in February as a recovery continued to elude the key economic sector, underscoring the need for more bold measures to stabilise the market. Across 70 mainland cities, February new-home prices dropped 0.1 per cent month on month, the same decline recorded in January, according to data released by the National Bureau of Statistics (NBS) on Monday. Prices for new homes fell 5.2 per cent year on year, slightly less steep than the 5.4 per cent... https://www.scmp.com/business/china-business/article/3302619/chinas-home-prices-drop-21st-straight-month-property-recovery-remains-elusive?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3302619/chinas-home-prices-drop-21st-straight-month-property-recovery-remains-elusive?utm_source=rss_feed Mon, 17 Mar 2025 04:10:34 +0000 Yuke Xie Yuke Xie China’s policy easing since September has been “more effective” than past interventions to stabilise the struggling property market, but “structural divergences” mean additional support measures are needed for a sustained recovery, according to Goldman Sachs. “Compared to earlier episodes, the ongoing policy easing appears more effective in boosting home sales and stabilising prices, despite limited impact on property investment and other construction-related property activity,” the US... https://www.scmp.com/business/article/3298337/chinas-property-market-still-needs-more-support-goldman-sachs-says?utm_source=rss_feed https://www.scmp.com/business/article/3298337/chinas-property-market-still-needs-more-support-goldman-sachs-says?utm_source=rss_feed Wed, 12 Feb 2025 06:31:14 +0000 Daniel Ren Daniel Ren A glut of new homes is likely to saturate Shanghai’s property market this year, increasing pressure on developers to sell their projects quickly and prevent an inventory from building, according to agents and analysts. At least 270 residential developments with some 30,000 units are expected to go on sale in mainland China’s commercial and financial hub this year, on top of the existing inventory of 54,000, according to property agency Baonuo. “Government incentives may not be enough to fire up... https://www.scmp.com/business/banking-finance/article/3296325/can-shanghai-absorb-84000-homes-year-amid-slowing-sales-rising-prices?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3296325/can-shanghai-absorb-84000-homes-year-amid-slowing-sales-rising-prices?utm_source=rss_feed Sun, 26 Jan 2025 07:29:56 +0000 Daniel Ren Daniel Ren New home prices across mainland China in December registered the smallest month-on-month decline since June 2023, propelled by Beijing’s stimulus package. However, it would be some time before the country’s significant property sector saw a strong recovery, because developers still had a large inventory to clear, analysts said. Last month, prices of newly built homes in the mainland’s 70 major cities edged down 0.08 per cent from November, according to data released by the National Bureau of... https://www.scmp.com/business/china-business/article/3295164/home-prices-chinas-biggest-cities-stabilise-under-beijings-stimulus-measures?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3295164/home-prices-chinas-biggest-cities-stabilise-under-beijings-stimulus-measures?utm_source=rss_feed Fri, 17 Jan 2025 08:00:07 +0000 Daniel Ren Daniel Ren Lived-in home transactions in Shanghai hit a four-year high last month after mainland China’s commercial and financial hub relaxed purchase rules in October to nudge its slumbering property market. However, homeowners were still forced to offer discounts of 5 to 10 per cent to get deals done amid a bearish economic outlook. A total of 29,711 pre-owned homes changed hands across the city in December, up 9.8 per cent from a month earlier, according to online property consultancy Fangdi.com.cn. It... https://www.scmp.com/business/china-business/article/3293491/shanghai-lived-home-sales-hit-4-year-high-incentives-kick?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3293491/shanghai-lived-home-sales-hit-4-year-high-incentives-kick?utm_source=rss_feed Sun, 05 Jan 2025 09:17:53 +0000 Yulu Ao Yulu Ao Mainland Chinese developers’ hopes for a better start to the new year received a boost as home sales picked up towards the end of 2024, following Chinese authorities’ pledge to “stop prices from sinking further”. Across 30 major mainland cities, average home sales jumped 86 per cent in the fourth quarter from the previous three-month period, according data from China Real Estate Information Corp (CRIC). Home sales in the top four tier-one cities – Beijing, Shanghai, Guangzhou and Shenzhen – rose... https://www.scmp.com/business/china-business/article/3293049/china-property-rising-home-sales-bode-well-sector-reeling-last-4-years?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3293049/china-property-rising-home-sales-bode-well-sector-reeling-last-4-years?utm_source=rss_feed Thu, 02 Jan 2025 23:30:08 +0000 China’s consumption growth continued to disappoint in November, with retail sales growth falling below the 5 per cent level for a ninth consecutive month. The reading of 3.0 per cent missed the consensus forecast of economists polled by financial data provider Wind of 5.3 per cent, and it was below October’s retail sales growth of 4.8 per cent, the strongest pace of consumer spending growth since February’s 5.5 per cent. Consumption is in focus of late, as the government has acknowledged its... https://www.scmp.com/plus/article/3291004/chinas-consumers-stay-frugal-drumbeat-downbeat-data-continues?utm_source=rss_feed https://www.scmp.com/plus/article/3291004/chinas-consumers-stay-frugal-drumbeat-downbeat-data-continues?utm_source=rss_feed Mon, 16 Dec 2024 09:01:55 +0000 Yulu Ao Yulu Ao Some corners of China’s property market are showing surprising signs of life. Home sales in top-tier cities like Shanghai and Beijing are flying, suggesting consumers are spending on big-ticket items again, with the government throwing its full support. A combination of policy stimulus in September and “pretty sizeable” changes in the property tax structure last month helped fuel the biggest surge in secondary market home sales in November, according to official data. The “off-season” rebound... https://www.scmp.com/business/china-business/article/3290705/chinas-housing-market-rout-ending-policy-moves-revive-confidence-home-sales?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3290705/chinas-housing-market-rout-ending-policy-moves-revive-confidence-home-sales?utm_source=rss_feed Sun, 15 Dec 2024 02:00:13 +0000 Cao Li Cao Li Lived-in home sales in some of China’s largest cities are picking up, but prices remain subdued, with Japanese investment bank Nomura noting that the property crisis weighing on the economy for nearly four years is far from over. In Shenzhen, a total of 2,390 second-hand homes changed hands last week, the most in more than three years, according to data compiled by the Shenzhen Real Estate Intermediary Association. Similar trends have been observed in other major cities, including Beijing and... https://www.scmp.com/business/article/3290312/china-property-lived-home-sales-rise-prices-fall-shenzhen-beijing-shanghai?utm_source=rss_feed https://www.scmp.com/business/article/3290312/china-property-lived-home-sales-rise-prices-fall-shenzhen-beijing-shanghai?utm_source=rss_feed Wed, 11 Dec 2024 08:30:51 +0000 Yuke Xie Yuke Xie China’s attempt to revive the local property market has helped stabilise sentiment among homebuyers, according to Fitch Ratings. They are not likely to prevent a fourth straight year of decline in sales in 2025 given weak sector fundamentals, it added. New home sales could drop by about 15 per cent to 7.3 trillion yuan (US$1 trillion) next year, it said in a report on Thursday, reflecting a 10 per cent decline in gross floor area sold and a 5 per cent drop in average selling prices. Excess... https://www.scmp.com/business/article/3289478/no-cheer-developers-chinas-new-home-sales-projected-fall-15-2025-fitch?utm_source=rss_feed https://www.scmp.com/business/article/3289478/no-cheer-developers-chinas-new-home-sales-projected-fall-15-2025-fitch?utm_source=rss_feed Thu, 05 Dec 2024 07:01:29 +0000