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no Chinese on the forum??
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Bro no need to bump every hour. China is 12 hours ahead so it’s been night basically the whole time since you posted this.
Not in China, but have family that dealt with evergrande in China. This isn't anything new, they have been going down hill since last year, when poc tighten policy around real estate lending and evergrande hasn't been able to refinance its debt. Long story short, feel bad for the people who bought evergrande houses, because they are stuck and can't do shit about it. However, this isn't a systematic issue, Chinese government going to come to rescue. Even though, I'm not a big fan of the government there, but I get to say they are doing a good job with the new policies on the real estate and education industry. The cost for real estate and private tutor / education need to come down. Long term, I think it's good for the people, especially for the people in HK that can't afford housing. I'm rdy to get monkey shit on this because most Asian people on the forum probably come from money and getting hit hard with the chaos happening in China especially if you own any Chinese assets over the past several years expect a 40-50% haircut.
Very insightful
anyone wanna add different views?
Looks like China is really doing a good job of closing the gap of wealth distribution
I work in HK, though not related to real estate. Beijing feel that too much of their GDP is tied up in real estate, 'tech', education services etc. Real estate is basically dead money, especially with speculators buying and sitting on empty apartments. The 'tech' that China is good at doesn't benefit hard sciences. They want chips, 5g, material science etc, not payment apps and ride-sharing. Similarly, for education, most of those services are pretty worthless. Real estate and education costs also exacerbate the demographic issues China is/will be facing. In the long term Beijing wants to direct more savings into capital markets.
Very helpful info!
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Are we talking about the peoples republic or legitimate China?
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