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China’s Recent Policy Easing Unlikely to Boost National New Home Sales
The recent wave of policy easing in China will have a greater impact on existing homes for sale but is unlikely to propel sales of new homes on a sustained basis, says Fitch Ratings. We expect most Chinese cities to remove restrictions on home transactions by the end of September as local authorities rush to boost home sales in the traditional peak selling season of September and October. This suggests room for further policy easing of this type may be more limited for most mid-tier and lower-tier cities if the positive effect, if any, turns out to be short-lived. Top-tier cities’ recent relaxation of mortgage ... (full story)