BUSINESS Evergrande crisis' impact on China's housing market remains to be seen: senior official

BUSINESS

Evergrande crisis' impact on China's housing market remains to be seen: senior official

环球时报网英文版

17:32, September 15, 2021

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The impact of real estate giant Evergrande's liquidity crisis on China's property market remains to be seen, a senior official at the National Bureau of Statistics (NBS) said on Wednesday, vowing to ensure that there was no spillover into the real estate industry.
Fu Linghui, a spokesperson for the NBS, said at a press conference that some property developers in China are facing challenges across their operations, though further observation is needed for impact on the development of the whole industry.
Fu also noted that operations of the domestic real estate industry remains generally stable as various regulators in many areas continued to stabilize housing prices, land prices as well as expectations under the principle of housing is for living not speculating.
China's real estate sales by floor space had recorded two-year average growth of 5.9 percent in the first eight months of 2021, down 1.1 percentage point from the first seven months, and the sales of commercial properties grew by a two-year average of 11.7 percent, according to Fu.
Real estate development investment also remained basically stable with a two-year average growth of 7.7 percent from January to August, according to official data

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