Property market

An office building in the Guomao area in Beijing. (Photo: Meng Dandan)

Vacancy at an all-time high as companies move out of Beijing’s prime office space

Despite the lifting of Covid-19 restrictions, the office vacancy rate in China’s capital Beijing has not recovered, and is set to increase. From considerations such as rental cost and traffic, internet companies are opting to move out of prime central locations. Lianhe Zaobao journalist Meng Dandan tells us more.
People at a shopping mall in Beijing's central business district, China, on 7 September 2023. (Tingshu Wang/Reuters)

Is China’s development losing steam?

The world is concerned that the Chinese people are beginning to lose confidence in China’s future, dampening the prospects for sustainable development. Researcher Wei Da believes that there is little connection between this crisis of confidence and the cyclical boom and bust of the economy, but China’s severe economic problems are ultimately political problems.
People ride on a scooter past residential buildings under construction in Beijing, China, on 6 September 2023. (Tingshu Wang/Reuters)

China’s trillion-dollar local government ‘hidden debt’ dilemma

As China’s financial system remains plagued by trillions of dollars in local governments’ hidden debt, policy makers may need to take drastic measures to solve the problem.
A person works at a residential building construction site in Beijing, China, on 6 September 2023. (Tingshu Wang/Reuters)

Chinese property market: Second wind or brief respite?

Over the last two years, the Chinese property market suffered a downturn and this has had a knock-on effect on the country’s economy. In recent weeks, the government has loosened restrictions and rolled out policies to make it easier for the public to buy houses and to boost property sales. Is this a turning point for the Chinese property market? Will the government’s mantra that “houses are for living in, not speculation” take a back seat henceforth? Zaobao correspondent Yu Zeyuan reports.
This photo taken on 20 June 2023 shows a view of a complex of unfinished apartment buildings in Xinzheng city in Zhengzhou, Henan province, China. (Pedro Pardo/AFP)

Can new policies revive China's home sales?

In a bid to boost home purchases in what has normally been the peak sales period of September and October, Guangzhou and Shenzhen have announced preferential policies for homebuyers. However, Lianhe Zaobao correspondent Chen Jing notes that market confidence is still at a low; are the new policies enough to boost the Chinese property market’s recovery?
Items seized by the police from the homes of members of the "Fujian gang". (Singapore Police Force)

Property, nightclubs, collector items: How ‘Fujian gang’ lifestyles aided money-laundering activities

While members of the “Fujian gang” have made the news recently for their billion-dollar money-laundering case, less is known about their lavish lifestyles and the trails their clandestine activities leave behind. Zaobao senior correspondent Poh Lay Hoon reports.
Workers walk out of a construction site of residential buildings by Chinese developer Country Garden, in Tianjin, China, on 18 August 2023. (Tingshu Wang/Reuters)

Clock ticking on Country Garden’s debt bomb

Amid China's property crisis, Country Garden is on the way to becoming the next casualty as it teeters on the brink of its maiden bond default. Compared with many of its distressed peers, Country Garden was in a better position during the early stages of the property market downturn. But now, the company is scrambling for a lifeline.
Residential buildings at the Evergrande Palace project, developed by China Evergrande Group, in Beijing, China, on 18 August 2023. (Bloomberg)

The dangerous link between China’s real estate demise, the economy and the financial system

With Chinese property giant Evergrande filing for bankruptcy in the US and other companies like Country Garden tottering on the brink, China’s property sector is plunging further into a crisis that could have major ramifications on the country’s real economy and financial sector. Economist Alicia García Herrero explains.
People walk in a shopping district in Beijing, China, 14 July 2023. (Thomas Peter/Reuters)

China needs a new model of economic development to revive the economy

Over the past four decades, China’s economic growth has been mainly driven externally by exports and internally by investments. But China can no longer count on exports to drive economic growth. Thus, the country is seeking to boost domestic demand. Academic Gu Qingyang shares that China needs a multi-prong approach, which would require a significant transformation of the economy.