World News

The plunging economy is likely to be one factor behind the policy pivot in both zero-Covid and property. In mid-November, Beijing rolled out sweeping measures to rescue the embattled real estate sector. Then it turned out that the exit of zero-Covid has been much faster than expected, that is why economists are optimistic of a rebound next year. However, the road to recovery is a very bumpy one. Three years of lockdowns, mass testing, and quarantines have stoked public anger and placed huge debt burdens on local governments across the country.

Credit Digging to China