China Unveils Bold Measures to Revitalize Property Market
China is planning to implement further measures, including relaxing home-purchase restrictions, to address the deepening crisis in its debt-riddled property sector. Regulators, including the housing ministry, central bank, and financial regulator, will act on measures developed over the past few months to revive the sector, which accounts for a quarter of China's economy. Proposed measures include lifting home-purchasing curbs in non-core districts of major cities and gradually removing price caps on new homes. The government hopes these measures will boost consumer demand and counter the downward spiral the sector has been experiencing since 2021.