BEIJING : China's property sector will remain weak but will see a gradual recovery in 2023, economists said in a Reuters poll, expecting further stimulus measures and looser COVID-19 curbs to support the crisis-stricken sector next year.
"For 2023, property indexes are expected to see a turning point and consumer confidence will improve with the economy completely stabilised after COVID restrictions ease," said Li Zongguang, chief economist at China Renaissance Holdings Limited.Woes in China's real estate market, which accounts for about a quarter of its $17 trillion economy, deepened in October, weighed down by COVID-19 curbs and industry-wide problems.
Property sales were seen slumping 5.0 per cent in the first half of 2023, a smaller drop than the 15.0 per cent fall forecast in the September poll. Economists expected a 1.0 per cent slump in sales for the whole of 2023, the survey showed.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Xi Jinping says China to consider rekindling Belt & Road Forum in 2023Belt & Road was a signature initiative of the Chinese president, till Covid-19 brought it to a halt. Read more at straitstimes.com.
Source: STForeignDesk - 🏆 4. / 71 Read more »
China should set 2023 economic growth target no lower than 5% - central bank adviserBEIJING : China should set its economic growth target no lower than 5 per cent for 2023, Liu Shijin, a policy adviser to its central bank, said on Friday.The world's second largest economy grew just 3 per cent in the first three quarters of this year, well below the annual target of around 5.5 per cent. F
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
2023 Toyota Prius unveiled: Nagoya's hybrid king is backIt’s been a hot minute since we last heard from Toyota regarding their evergreen (and ever green) Prius hybrid car. Debuting in 1997, the Prius was the pioneer in introducting environmentally-friendly petrol-electric hybrid vehicles to the world. Fast forward 25 years, five generations, and 5.05 million sold units later, and we now have this: the all-new 2023 Toyota Prius. Making...
Source: asiaonecom - 🏆 10. / 59 Read more »
Singapore to host first Olympics e-sports week in June 2023: IOCSINGAPORE: Singapore will host the inaugural Olympic E-sports Week in June next year, the International Olympic Committee (IOC) announced on Wednesday (Nov 16). In partnership with the Ministry of Culture, Community and Youth, Sport Singapore and the Singapore National Olymp
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Family violence victims can get help from 24-hour emergency response team from April 2023SINGAPORE - Victims of family violence will be able to get help from social service professionals around the clock by calling the National Anti-Violence Helpline from April 2023. Read more at straitstimes.com.
Source: straits_times - 🏆 5. / 69 Read more »
Goldman sees China's real GDP growth rising to 4.5% in 2023NEW YORK : China is likely to post real gross domestic growth (GDP) of 4.5 per cent next year, largely due to the country's gradual exit from its zero-COVID policy that could lead to a rise in consumption, Goldman Sachs wrote in a research note on Thursday.China is battling coronavirus outbreaks in numero
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »