China Business & Economy

China’s Deepening Property Slump Signals Weakness of Economy

Ex-Chinese finance minister says the housing bust will take at least five years to fix, locking in weaker growth and gloomy consumer sentiment.
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China’s Deepening Property Slump Signals Weakness of Economy
Deserted villas in a suburb of Shenyang in northeastern Liaoning Province, China, on March 31, 2023 Jade Gao/AFP via Getty Images
Sean Tseng
|Updated:
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News Analysis

China’s housing market had another very weak month in October, with price declines even steeper than in September.

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Sean Tseng
Sean Tseng
Author
Sean Tseng is a Canada-based reporter for The Epoch Times covering U.S.–China relations, CCP politics, trade policy, and emerging technologies including AI and defense. He holds a BASc in mechanical engineering from the University of British Columbia.