Last chance for China? an all-time stimulus package for property on the verge of collapse

The concrete structure is left unattended like a hideous object.

It is an apartment construction site in Country Garden that was once the number one Chinese real estate industry and fell into default.

Among these construction sites, Chinese authorities are selecting places with potential to recover and transfer funds.

It's a so-called 'white list' loan.

Since the beginning of this year, more than 427 trillion won has been invested so far, and it has been announced that it will increase by 340 trillion won by the end of the year.

[Nihong / Head of Housing, Urban and Rural Development Department: All eligible real estate projects should be included in the "white list" and all loans due to me should be given as much as possible.]


We also announced plans to rebuild 1 million old houses.

It is an extension of the stimulus package to lower mortgage interest by 0.5%p and reduce the down payment ratio to 15%.

[Tao Ling / Vice President, People's Bank of China: It will save 150 billion yuan in interest spending and benefit 50 million households and 150 million people.]

{집}'House prices have hit rock bottom', the real estate market has been shaken up during the actual National Day holiday.

Since the announcement of the so-called "September 24 Measures," funds from the stock market, which have soared by around 30%, have also flowed into real estate.

[Jang Jing / Homebuyer: The Chinese stock market is very good these days. Using this as leverage, I made enough money to make a down payment.

China's state media is also blowing the wind, saying more than 10,000 homes have been sold in the southern metropolis of Guangzhou alone.

I'm Kang Jeong-gyu from Beijing.

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