A radical shift in China’s property and pandemic policies

three years China’s policymakers have been fighting a two-front war: against a virulent pandemic and a volatile property market. Their chosen policy instruments have turned out to be double-edged. “Zero-covid” mass-testing and hair-trigger lockdowns have saved lives at great cost to the economy.

The 20 steps are not necessarily a prelude to the abandonment of China’s zero-covid policy—they may just be a refinement of it. Indeed, with infections rising, including in big cities like Guangzhou, China may see more lockdowns in the immediate future,. But the 20 steps still represents the biggest relaxation of the country’s pandemic stance since covid began to spread.

Just as last year’s curbs tightened access to financing, these measures loosen it. They are intended to increase lending to viable developers and construction firms, avert a fresh wave of loan or bond defaults, finance the resumption of construction on stalled projects and ease the plight of mortgage-holders. Developers’ loans due in the next six months should be extended. Bonds should be renegotiated.

Politics drives economics not other way round. Now that Xi is solidly settled in his chair you will see a quite burial of Zero COVID strategy.

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As reported yesterday here in Sunny EU Berlin, Chancellor Scholz SPD still regularly discusses vital policy with his predecessor Mrs Merkel CDU, such Common Sense, such Intelligence. Then there’s the UK's ever-selfish self-destructing Tory Party, of course – Hooray!

Trying to recreate a new digital footprint

You're very wrong, Communism China never gives its sense to the people under their ruling. Generally speaking, it cares nothing but their powers

Why does it concern the Anglo world?

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