China Rolls Out Property Policies Across Nation to Fix Slump

The China Evergrande Group Royal Peak residential development under construction in Beijing, China, on Friday, July 29, 2022. Photo: Bloomberg

(Bloomberg) — A flurry of Chinese cities are rolling out measures to boost housing demand, signaling the government’s intention to arrest a real estate slump.

Various local governments have issued at least 70 property easing measures since President Xi Jinping’s Politburo called for efforts to defuse the crisis. Chinese developers’ stocks and dollar bonds rose on Thursday after the Securities Daily reported that more than 120 cities have this year loosened policies restricting the use of housing provident funds to buy properties.