Crisis in Communist China’s Real Estate Industry Deteriorates

In the first quarter of 2022, real estate in the Communist China showed no sign of rebound, with delayed deliveries and debt bubble bursting as the new norm.

On April 13, the Chinese Communist Party (CCP) domestic securities media reported that the shares of CCCG Real Estate had dropped sharply, and trading was halted, which was directly caused the substantial reduction of holdings by its major shareholder Chongqing Yufu.

Since Evergrande’s debt burst in September last year, the real estate industry in the Communist China has been on a downward spiral. By the first quarter of 2022, the scale of new housing transactions in the key 100 cities of the Communist China, were down 40.5% year-on-year. As for March, the so-called Indian summer for the housing market, the volume of real estate transactions was reduced to almost half of the same period a year ago.At the same time, Wuhan, Zhengzhou, Xi’an, Shandong and other cities also continued to break the news that the delivery of houses was delayed. ChinaFortuneLand, Yango Group and other large real estate companies are not only facing debt crisis, but their stocks are also suspended for a long time. As for Evergrande, the CCP has not announced any substantive measures to deal with the matter, except for a statement of “handling the matter in a prudent manner”.

Judging by the current situation, the crisis of real estate, a pillar industry of the CCP, is . Deteriorating.

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Translator: MOS Translation Team Lakers H.
Design&editor: Hbamboo

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