September 26, 2022
China Economic Update – September 2022
Buyers fight back: Mortgage strike points to property sector’s weak underpinnings
A recent mortgage strike – related to the failure of property developers to deliver pre-sold apartments to their purchasers – has fuelled fears of a financial crisis in China. While these fears appear somewhat overblown, as mortgages impacted by the strike represent a small share of lending, deteriorating confidence could impact property activity and drag on China’s economic growth going forward.
For further details, please see the China Economic Update (September 2022)