In SRC’s US$1.1b suit against Najib, ex-director says former PM blaming him and board for RM3.6b loss is an ‘afterthought’
But they are now reversing those policies in a bid to stem an economic slump characterised by a debt crisis among developers, low demand and falling prices. The announcement quickly racked up more than 150 million views on social media site Weibo, where many users were doubtful the policy would make any difference.“With Hangzhou’s house prices, what’s the point of cancelling buying restrictions? I still can’t afford it,” wrote one commenter.“If this does not goose sales there will be more trouble as prices will have to adjust downward a lot,” he wrote on social media site X.
Several of the biggest cities, including Beijing, Shanghai and Shenzhen, have partly lifted curbs but have resisted dumping them entirely.
China Homes China Economy Property Crisis
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