China Targets Property Slump

This is a China news story, published by CNBC, that relates primarily to Xi Jinping news.

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Chinese President Xi Jinping

CNBC

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China's Xi and top leaders call for halting real estate decline, responding to public concerns

Summary

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Chinese President Xi Jinping led Thursday 's meeting of the Politburo , the second -highest circle of power in the ruling Chinese Communist Party .

Authorities "must work to halt the real estate market decline and spur a stable recovery," readout said in Chinese .

Stocks in mainland China and Hong Kong extended gains after the news to close sharply higher.

HSBC said "the tide has turned; be prepared for more proactive initiatives" Capital Economics said Beijing 's hint at stimulus did not make it clear whether it would include large-scale fiscal support.

S&P Global Ratings said in a report earlier this year that fiscal stimulus is losing its effectiveness in China .

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English

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