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...International investors have been persistent net sellers since August, when missed bond payments by developer Country Garden revealed the severity of a liquidity crisis in the country’s property sector....
...Chi Lo, senior Asia-Pacific strategist at BNP Paribas Asset Management, said there had been a steady string of positive developments favouring the renminbi’s international use this year and that November...
...Chinese developer Vanke’s bonds have been downgraded by Moody’s in the latest outbreak of stress across the country’s troubled property sector....
...“They have to show continued support and implement more policies that have been announced on the property and local government debt side,” Liu added....
...A Hong Kong court has ordered China Evergrande to be wound up, opening a new and unpredictable phase in the collapse of the world’s most indebted property developer....
...China will target economic growth of about 5 per cent this year, a rate that analysts have described as “ambitious”, as the world’s second-largest economy battles challenges ranging from a property slowdown...
...Alicia García-Herrero, chief Asia-Pacific economist at Natixis, said the exposure of Chinese trust funds to the real estate sector had been significantly reduced following acute pressure from Beijing....
...Funds raised by initial public offerings fell 56 per cent last year, due in part to slowing economic growth in China, as well as a liquidity crisis in the mainland’s property sector and rising tensions between...
...However, analysts said the figures showed that a long-running property downturn, weak export demand and low investor and consumer confidence continued to weigh on the Chinese economy....
...Global investors’ aversion to the Chinese stocks that make up the bulk of Hong Kong’s market has only increased since then, thanks to China’s slowing economic growth, a liquidity crisis in the country’s property...
...“There’s been a dearth of foreign interest for a long time, and nothing has changed,” said the head of Asia Pacific at one large UK asset manager....
...The property sector, which has been mired in a debt crisis for three years, continued to suffer in 2023, the official statistics showed on Wednesday....
...The move marks an escalation of official efforts to combat a protracted equity market sell-off spurred by China’s slowing economic growth and a property market crisis....
...Global investor appetite for Chinese equities has been severely tested since July, when top leaders’ promises for more substantial economic policy support were undercut by a series of defaults in the property...
...has sharply underperformed global peers this year on the back of a disappointing economic recovery from years of harsh zero-Covid restrictions and a rolling liquidity crisis among systemically important property...
...Stocks in Shanghai, Shenzhen and Hong Kong continue to lose ground as a result of slowing economic growth in China, an unresolved financial crisis in the property sector and worsening tensions between Beijing...
...Shadow financing in China frequently flows into property groups....
...Hong Kong’s property market, among the most expensive in the world, rose in tandem with the explosion of wealth in China....
...Hudson Lockett Is UK inflation still falling?...
...“China used to be a place where you’d know when this sort of thing would be published, but that has changed radically,” said Alicia García-Herrero, chief Asia-Pacific economist at Natixis, who described...
...Wendy Liu, chief China equity strategist at JPMorgan, acknowledged that many investors “would like to see a road map” on how Chinese policymakers plan to deal with issues such as the property market crisis...
Shares in China’s most valuable company and gaming rival NetEase suffer dramatic falls on threat to revenues
...“It’s part of a bigger problem that we see as well outside the property sector,” said Sandra Chow, co-head of Asia-Pacific Research at credit research firm CreditSights, referring to targeted funding to...
...But foreign funds have forcefully sold down their positions in recent months in response to mounting concerns over a liquidity crisis in the property sector and disappointing growth readings....
...CSPI, the rating agency, said it expected “downward pressures [on China’s economy] to persist due to the declining state of the property market and intensifying geopolitical uncertainties”....
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