#AlJazeera China’s property slump deepens as unfinished buildings remain across cities

China’s property slump deepens as unfinished buildings remain across cities
China’s economic challenges continue to mount as the country grapples with a persistent real estate downturn and weakening consumer confidence.
Despite government efforts to stimulate growth, the property market remains a significant drag on the economy, with unfinished housing projects dotting the landscape and home sales continuing to decline. This slump has had a ripple effect on consumer spending, with retail sales falling short of expectations and unemployment rising to 5.3%. While exports have shown resilience, experts warn of uneven and fragile growth across sectors.
The government faces a delicate balancing act as it attempts to revive the economy without fuelling financial risks.
Regulators are cracking down on aggressive price-cutting in industries such as electric vehicles, which they claim is exacerbating deflation.
Despite official assurances of stable growth momentum, Beijing must navigate these complex challenges to meet its 5% GDP target for 2025 and restore confidence in the world’s second-largest economy.

#ChinaEconomy #BeijingRealEstate #ChinaPropertyCrisis #ChinaUnemployment #ChinaEVMarket #PriceWarsChina #ChinaDeflation #ChinaGDP #ChinaGrowth #ChinaEconomicOutlook

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