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Copyright © 2024 CGTN. 京ICP备20000184号
Disinformation report hotline: 010-85061466
SITEMAP
Copyright © 2024 CGTN. 京ICP备20000184号
Disinformation report hotline: 010-85061466
Hong Hao, chief economist at Grow Investment Group, joins CGTN's Global Business to share his views on China Evergrande Group's recent liquidation order and its implications for China's real estate market.
According to Hong Hao, the court decision targets Evergrande's offshore assets and it marks the end of the Evergrande saga. Instead of viewing this development as negative, he says it showcases how such crises can be managed.
When asked about government policies to stabilize the real estate market, Hong Hao pointed out that despite a decline from a sales peak; the industry still sold about 10-11 trillion yuan worth of properties in 2023. Given the cyclical nature of the asset-heavy real estate sector, which tends to overcorrect during adjustments, he believes the current sales level is not entirely discouraging, and with government policy support, the market is trying to find the bottom.