Remember that Chinese real estate is the single biggest asset class in the world
(Data from 2016) pic.twitter.com/uCb23iW2PS
— AndreasStenoLarsen (@AndreasSteno) August 1, 2022
A nascent two-month recovery in China’s home sales ended in July, as a widespread mortgage revolt over concerns that ailing property developers wouldn’t be able to deliver still-unfinished apartments weighed on demand.
Sales at the country’s top 100 property developers fell 39.7% in July from the same period last year to the equivalent of $77.6 billion, or 523.14 billion yuan, according to data released Sunday by CRIC, a Chinese real-estate data provider.
🇨🇳 #China Banks May Face $350 Billion in Losses From ~#Property Crisis – Bloomberg
*Link: t.co/CcZ4OBmP74 pic.twitter.com/BomC3tXGpF— Christophe Barraud🛢🐳 (@C_Barraud) August 1, 2022
#China's July #Steel Industry PMI dropps by 3.2 percentage points to 33.0%.
New Order Subindex stays at 25.9%, a historical low. New Order Subindex drops 7.7 percentage points to 39.4%. The terminal market recovered slowly with underconfidence. pic.twitter.com/N5UPrrbcYb— CN Wire (@Sino_Market) July 31, 2022