Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

LATEST
Trending in China: Shenzhen Thinks Only Children Should Get Paid Leave to Look After Their Parents - Cue Heated Debate
German Drugmaker BI Launches Shanghai Center to Harness Chinese Expertise
Chinese Self-Driving Truck Firm Aims to Cover Most of U.S. by 2024
Trending in China: Chinese Netizens Tell Indian Prime Minister Modi To ‘Shut The Door On The Way Out’ As He Quits Weibo
Trending in China: If You Can’t Beat Them, Join Them – Why Tencent is Laughing At Itself
Meituan Eyes Robot-Enabled Deliveries with $14 Million Investment in PuduTech
India Ban Could Hit TikTok’s Parent Company to the Tune of $6 Billion
Sina Weibo to Issue $750 Million in Bonds
Embattled Leshi Forced to Sell Smart TV, Livestreaming Trademarks
Autowise.ai and Swiss Cleaning Carmaker Launch Driverless Street Sweeper
Trending in China: How an ‘Old Godmother’ Took on China’s Internet Giant and Won
China’s IT Spending Expected to Hit $297 Billion: IDC
TikTok Moves Data Protection of European Users from U.S. to U.K. and Ireland
Trending in China: Dazed and Confused – China’s Elderly in Online Pandemic World
Alibaba-Owned Taobao Live Sacks Former Operating Head for Corruption
Tesla Supplier CATL Breaks Ground With New Battery Lab
Chinese Online Educator Zuoyebang Receives $750 Million Investment
Didi to Halt Service in Several Japanese Prefectures Citing Impact of Covid-19
Trending in China: ‘Robotaxis’ A Brave New World or Creating More Unemployment?
Lazada Appoints Former Alibaba Executive as New CEO
Leading Investment Bank Turns Upbeat on Property After Premier’s Report

By Fran Wang / Mar 07, 2019 09:46 PM / Business & Tech

Photo: VCG

Photo: VCG

A leading Chinese investment bank has revised up its forecasts for a slew of key gauges of the country’s real estate market, citing an improving policy environment indicated in Premier Li Keqiang’s annual report to the top legislature.

Property sales by floor space are now expected to decline by 7% rather than the previously projected 10% fall, according to a research note issued by China International Capital Corp. Ltd. (CICC) Wednesday. Sales by value are estimated to weaken by 4%, instead of a 10% fall predicted earlier. Property investment will likely rise by 2%, a reversal for a previous forecast of a 5% drop.

It noted that the government work report, delivered by Li at the opening of this year’s session of the National People’s Congress, did not mention phrases such as “curbing the rise of real estate prices,” which would point to the government’s tightening stance over property policies.

“We think the extremely simple accounts of the property market in the government work report means the central government agrees with the one-city, one-policy strategy and its effects. Local governments may have greater flexibility to adjust their policies, which will help the market’s fundamentals to bottom out,” CICC analysts said in the report.

Related: Update: China Sets 2019 GDP Growth Target at 6% to 6.5% Amid Slowdown

 

Share this article
Open WeChat and scan the QR code