#Evergrande #ChinaEconomy #ChinaRealEstate


With Evergrande under investigation (again), China’s mortgage boycotts continuing and the real estate market slowing, Beijing stepped up this week, promising to backstop select real estate developers.

In addition to the bail out of the real estate industry China’s central bank, the People’s Bank of China (PBOC) cut interest rates for the first time since January. The hope is that cheaper cost of borrowing will help to stimulate the Chinese economy.

The decision to backstop China’s real estate developers, and reduce interest rates, show a clear departure in policy on behalf of Beijing. While the country was previously focused on reducing debt it has clearly shifted toward economy recovery and reducing the impact of the real estate crisis.

LINKS:

Hong Kong Watchdog Investigates Evergrande Over Deal Audits:

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Evergrande Creditors Demand Further Explanation for Billions in Seized:

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Bailouts multiply as pressure mounts to stabilize China's housing market:

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China unexpectedly cuts key rates as economic data disappoints:

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Global economic recovery hinges on China’s next steps:

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Chinese Builders Rally on Plans for State-Guaranteed Bond Deals:

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Economy Takes Center Stage, Prompting The PBOC To Take Action:

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China Evergrande CEO, CFO step down after probe into property services unit:

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Leading real estate companies in China in 2021, by sales revenue:

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Country Garden’s First-Half Core Profit Plunges 70% Amid Turmoil:

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China Home Prices Fall for 11th Month as Mortgage Crisis Deepens:


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PBOC Surprise Suggests China’s Outlook Is Truly Dire:

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China Developers Plead for Government Help Amid Protests:

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How Evergrande found itself on the wrong side of China’s regulators:

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