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China Should Further Boost Demand, Stabilise Real Estate

CHINA PRESS
MNI (Singapore)

Authorities should increase policy intensity to address weak demand and stabilise the housing market, following the deceleration in March macroeconomic data, 21st Century Business Herald reported citing analysts. Retail sales slowed to 3.1% y/y from the previous 5.5% gain, as the real-estate downturn dampened spending on home appliances, decoration materials, and household items, said Zhang Yongjun, secretary general of the China Center for International Economic Exchanges. Yuekai Securities Chief Economist Luo Zhiheng said restrictive housing policies in first-tier cities should be relaxed further or gradually canceled, while assessment of financial institutions should be appropriately adjusted to help meet developers’ reasonable financing needs and avoid hard landings in real estate.

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