China’s long-running battle to stabilize its shaky real-estate market appears to be entering a troubling new phase, with data showing waning demand as a wave of home listings hits the market.
Shoring up the market is crucial for Beijing: Real estate accounts for as much as a quarter of economic activity in China. It is also the primary source of wealth for everyday Chinese.
If sentiment weakens more, it could further set back an economy that has stalled in recent months, after an initial burst of activity following the end of zero-Covid controls late last year.
Read the full story on The Wall Street Journal here.