Chinese property giant Vanke has avoided defaulting on its publicly traded bonds so far even during the prolonged market crisis. But its balance sheet has been weakened by falling sales of new homes and fragile market sentiment, and it has resorted to offloading assets to repay its debts on time.
Property market
Economy
Academic Chen Gang notes that while China needs to reform its current economy to maintain growth, whatever adjustments that are made will have to be bearable for the people. Also, some measures may be painful, but necessary.
Economy
The People’s Bank of China (PBOC) left a key interest rate unchanged on 15 January, leading the country’s major lenders to keep their benchmark interest rates on hold a week later. The PBOC has been constrained in its ability to cut interest rates over concerns that such a move would drive more capital out of China in search of higher returns. Even so, analysts say the next window of opportunity for a rate cut is likely to be in March or in the next quarter.
Society
Lianhe Zaobao senior correspondent Poh Lay Hoon takes a closer look at "golden passports" (passports in return for investment) market, including the popular countries to seek these passports, the cost of becoming a citizen of a foreign country, the impact it has on the people of the country issuing such passports, as well as whether money laundering has had an impact on the investment immigration business.
Economy
Although the Chinese economy showed some signs of recovery in 2023, prices have not improved in tandem, with key economic indicators signalling a persistent decline. This has served to deepen fears of deflation and sparked calls for more supportive policy measures.
Economy
While the latest economic results for China seem promising, one underlying factor could suggest otherwise — the lack of confidence in the authorities’ approach in stimulating the economy. How can China boost investor confidence and improve the economic climate?
Economy
Even with the efforts of the Chinese government to revitalise the stock market, investors and shareholders seem to be unconvinced and hesitant in putting in funding, which in turn is not helping the market to recover as fast as would be hoped. What else can be done to bring back the good days?
Economy
The real estate sector in China’s first-tier cities such as Beijing and Shanghai has recorded declining performance since the pandemic, with a full rebound still nowhere to be seen. Given the usual lag in the effectiveness of policies after implementation, will the real estate market see a silver lining ahead? Lianhe Zaobao correspondent Chen Jing tells us more.
Society
Despite its end, the pandemic in China has left behind some issues, in particular the makeshift quarantine facilities that cost the government millions of RMB to build. While some have been converted to residential apartments, these temporary structures could be on the road to a pricey demolition. Lianhe Zaobao correspondent Wong Siew Fong takes a closer look at one of these quarantine-turned-housing facilities.