Putting China’s house in order

A slowdown in home construction is a big drag on China’s economy, with GDP growth down to a six-year low of 7%. The government is struggling to arrest the slide.

Putting China’s house in order

A slowdown in home construction is a big drag on China’s economy, with GDP growth down to a six-year low of 7%. The government is struggling to arrest the slide.

A barrage of stimulus measures this year, including five interest-rate cuts since November and relaxed house-purchasing rules, have boosted sales in recent months.

However government stimulus is failing to offset the overhang of inventory from previous years. The backlog is so bloated,...

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