Property market

A "For Sale" sign displayed in front of a home on 22 February 2023 in Miami, Florida, US. (Joe Raedle/Getty Images/AFP)

Woe to Chinese property buyers in the US: China-US tensions trickling to grassroots

US academic Wu Guo reasons that the recent furore ignited by a draft Texas bill proposing to restrict Chinese buyers from buying property shows that US-China mistrust and jousting has seeped into local communities.
People ride bicycles on a street in Beijing, China, on 9 February 2023. (Jade Gao/AFP)

China local governments’ fiscal stress may roll over to 2023, think tank warns

Data from the Chinese Ministry of Finance shows that revenue in the local general public budget dropped 2.1% to 10.9 trillion RMB in 2022. As massive tax relief, “zero-Covid” outlays, and a property market meltdown drained their coffers, China’s local governments struggled to balance revenue and spending last year. One state-backed think tank warns that the fiscal strain could continue to plague localities in 2023.
Pedestrains on a street in Shanghai, China, 30 January 2023. (Qilai Shen/Bloomberg)

Uneven recovery ahead for China’s economy

Optimism over China's economic outlook may be rising, but its recovery is uneven, with different industries experiencing different levels of rebound. Furthermore, can Chinese authorities ensure a better business environment and greater transparency, as well as policy consistency and guarantee of the rule of law, to attract back businesses and investors?
Men work at a construction site of apartment buildings in Beijing, China, 15 July 2022. (Thomas Peter/File Photo/Reuters)

China’s property companies going bust may be a common sight in 2023

Chinese academic Yi Xianrong remarks that while the Chinese government had emphasised stability for the property sector in recent years, the market was in dire straits in 2022, marked by abysmal sales and financial figures and rock-bottom consumer confidence. Faced with these tough challenges, the Chinese government has made significant changes to its real estate policies this year. But it will not be a smooth road ahead to drive the transformation of the ailing sector.
People walk with their luggage at a railway station during the annual Spring Festival travel rush ahead of the Lunar New Year, in Shanghai, China, 16 January 2023. (Aly Song/Reuters)

China’s economy is bound to recover in 2023

China research analyst Chen Long gives a positive assessment of China’s economic prospects in 2023, pointing out that the swift U-turn on Covid policies may wreak havoc in the short-term, but be the catalyst to drive economic growth in the Year of the Rabbit. Variables are looking favourable, with the consumer spending and housing sector showing potential, and government policies going in the right direction.
Passengers are seen in the arrivals area for international flights at the Capital International Airport in Beijing, China, on 8 January 2023. (Noel Celis/AFP)

China’s declining population cannot be easily reversed

The latest announcement of China’s first population drop in six decades has gained much attention, with concerns over the long-term implications for the economy and the community. How will this affect China’s GDP and its aim to overtake the US as the world’s biggest economy? Can China reverse the population trend?
People visit Yu Garden ahead of the Lunar New Year of the Rabbit, in Shanghai, China, on 9 January 2023. (Hector Retamal/AFP)

China's 'China speed' reopening and its impact on the world

China’s reopening to the world on 8 January has led to hopes that the Chinese economy will rebound sooner and faster than expected. Lianhe Zaobao correspondent Chen Jing speaks with experts and business owners to find out the obstacles ahead for China, and how China's reopening will impact the regional and global economy.
Shanghai, China, on 3 January 2023. (Qilai Shen/Bloomberg)

China’s road to economic recovery faces post-Covid speed bumps

With China's policy pendulum finally swinging from stamping out and controlling the spread of the virus towards spurring economic growth, how will its economy perform in 2023?
People walk on a street during morning rush hour in Wuchang district, after the government gradually loosened the restrictions on Covid-19 control, in Wuhan, Hubei province, China, 9 December 2022. (Martin Pollard/Reuters)

China’s economy to recover next year

Lianhe Zaobao correspondent Yu Zeyuan looks at China’s declining economy and the factors leading up to it, including the strict Covid controls over the past three years. However, following the recent annual Central Economic Work Conference, there may be signs that the authorities are looking to adjust their approach and help the economy to recover.