China Says It Will Start Buying Apartments As Housing Slump Worsens - The World News Info

will continue to track the implementation of these purchases as local governments begin placing their first bids for distressed apartment blocks.

Whether this move will restore confidence or simply delay an inevitable, painful correction remains to be seen. For now, China has signaled that it is unwilling to let the housing slump run its natural course, opting instead to write a check to try and salvage the most important sector of its economy. will continue to track the implementation of these

BEIJING – In a landmark policy shift aimed at stabilizing the nation’s beleaguered property sector, Chinese authorities have announced that they will direct state-owned enterprises (SOEs) to begin purchasing unsold apartments directly from struggling developers. The move, confirmed by top economic regulators, represents the most aggressive state intervention yet in response to a housing slump that shows no signs of abating. BEIJING – In a landmark policy shift aimed