Weekend: Ex-PBoC official says China’s property downturn may continue for two more years ...Middle East

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Weekend: Ex-PBoC official says China’s property downturn may continue for two more years
Sheng Songcheng is a former director of the People’s Bank of China’s statistics and analysis department. He was speaking at a forum in Shanghai on Saturday.Said that the property downturn in China is likely to persist for two more years. It will begin to regain stability after that. New-home sales nationwide will likely shrink by another 50 million square meters both in 2024 and 20252025 annual total will plateau around 850 million square metersthere were some 'green shoots' appearing in November and December, such as the pace of sales decline moderating by a half in 2023 from a year earlierInfo comes via Bloomberg (gated).--The recent events in the property sector in China include:the slid

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