China can contain its property market troubles

Stronger policy framework would reduce risk of further real estate bubbles

20231130 china buildings

Unfinished residential buildings in Shaanxi province: As more developers run into trouble, the government should look to restructure their debts. © Reuters

Siang Leng Wong is a senior financial specialist at the ASEAN+3 Macroeconomic Research Office in Singapore. Ke Ji is an economist with the organization.

China has recognized the need to stabilize its property sector to keep developers' severe financial problems from spilling over further into banking and other key sectors of the economy or even affecting other nations.

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