Dec 25, 2023 06:49 AM

ECONOMY

Cover Story: China Renews Affordable Housing Push to Ease Crunch

By Yu Hairong, Ding Feng and Han Wei

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Policymakers in China are making renewed pledges to promote the construction of affordable housing, in the latest attempt to reverse more than three years of decline for the country’s property market.

Plunging sales and defaults by developers are taking a toll on the world’s second-largest economy, where the real estate sector, along with related industries, accounts for about 14% of GDP.

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