China's property sector, a pillar for economic growth, has been crippled by the central government's deleveraging campaign, with major developers such as Evergrande mired in debt. Now, as policymakers move to restore the sector, local governments have started to roll out measures to prop up the industry.
Caixin
China's slumping property sector helped by local governments
Beijing's deleveraging push countered by areas desperate for new growth
The central government has been clamping down on China's all-important property sector, hurting the development efforts of local governments. © Reuters
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