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πŸ‡¨πŸ‡³ Beijing trades a housing bubble for a housing bust it can control

πŸ‡¨πŸ‡³ Beijing trades a housing bubble for a housing bust it can control

China now requires mortgages to be issued only after homes are completed, and developers paid for it fast: the CSI 300 Real Estate Index fell 4.7% as official and private PMI surveys pull in opposite directions.

Line chart of China NBS manufacturing, non-manufacturing and total-economy output PMIs from Feb 2024 to Aug 2026.
Tony Norfield notes China’s official composite PMI stayed below 50 in August even as manufacturing output returned to expansion, with employment remaining weak across sectors. Source

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