• Ex-PBoC official: China’s property downturn may continue for two more years

Noticias del mercado

15 enero 2024

Ex-PBoC official: China’s property downturn may continue for two more years

The People’s Bank of China's (PBoC) former director Sheng Songchen said on Saturday at a forum in Shanghai that the property downturn in China may continue for two more years before gaining stability, per Bloomberg.

Key quotes

“New-home sales nationwide will likely shrink by another 50 million square meters both in 2024 and 2025.”

“2025 annual total will plateau around 850 million square meters.”

“There 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 earlier.”

Market reaction

At the time of writing, AUD/USD is holding lower ground near 0.6681, losing 0.03% on the day.

Enfoque del mercado
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Abrir cuenta demo y página personal
Entiendo y acepto la Política de Privacidad y estoy de acuerdo con que mi nombre y datos de contacto sean procesados por TeleTrade y utilizados para contactarme en lo referente a: