Chinese state banks have launched a concerted effort to strengthen the struggling construction market
The Chinese property sector has been plagued by construction delays after liquidity issues emerged at Evergrande, one of the largest and most indebted real estate firms in the country. The subsequent imposition of tighter controls by the Chinese government sparked a property crisis, and ever since, the construction industry has been facing severe headwinds. In a bid to revive economic growth and support the declining construction market, the Chinese government is now treating from tighter control to injecting billions of dollars into the property developers, a move that will counter the real estate crisis in the country. Read More - The surging cost of building materials hampering the growth of the construction industry globally Many of the leading state banks have launched a concerted effort to strengthen the struggling property and construction market in China. The new policy support from the Chinese government has raised market sentiment while offering a ray of light for ...