Part 6/8:
Arguably the most deteriorated aspect of China’s economy is the property sector, where efforts by the government to restore stability have faltered significantly. Despite numerous initiatives to facilitate property purchasing, increase government lending, and convert excess capacities into affordable housing, the crisis deepened into its fifth year. The reduction in residential sales and new home prices reflected an alarming trend, with estimates stating that 31 million properties remain unsold, and overall housing values down by more than 50%.