China's property market has 'not found a bottom' yet, Standard Chartered CEO Bill Winters says
Publishing timestamp: 2024-09-09 02:06:34
Summary
Standard Chartered CEO Bill Winters described the investing environment in China as "difficult" due to low consumer and international investor confidence, especially in the property market. Despite some signs of increased activity, the property market has not yet bottomed out, posing a risk of a financial crisis. China's GDP growth has slowed, and while Beijing has implemented some stimulus measures, it has been cautious due to the debt levels seen in other countries during the first wave of Covid. There are no signs of strong policy stimulus yet, with concerns about structural and circular downward pricing pressure in the property sector.
Sentiment: NEGATIVE
Keywords: real estate, business news, standard chartered plc,
Source: https://www.cnbc.com/2024/09/09/chinas-property-market-has-not-found-a-bottom-yet-stanchart-ceo.html