china housing crisis

China admits economy facing new ‘problems’, vows to fix property sector

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China admits economy facing new ‘problems’, vows to fix property sector

Chinese President Xi Jinping and other top leaders admitted Thursday that the world’s number two economy was facing new “problems” and vowed to resolve a long-running crisis in the housing sector. Beijing has this week unveiled a raft of measures to boost its ailing economy, which it has targeted to grow five percent this year … Read more

What China’s EV city says about the state of the economy

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What China’s EV city says about the state of the economy

HEFEI, China: Ultramodern factories churn out electric cars and solar panels in Hefei, an industrial center in the heart of central China. Broad avenues link office towers and landscaped parks. Subway lines open at a brisk pace. Yet at Hefei’s market for construction materials, local merchants are gloomy. Wu Junlin, a vendor of doors, has … Read more