Last week, Chinese stock markets had their best week since 2008 after the country unleashed a series of stimulus measures, while promising more in the coming days. The stimulus is targeted at increasing consumption, as well as supporting the country’s ailing housing sector - which has long been a pain point for the world’s second-largest economy.
One of the key catchphrases of Chinese President Xi Jinping is that “houses are for living in, not for speculation.” While there is nothing to suggest that Jinping – who is known for his strong communist ideological beliefs – has changed his views, there are signs that the Chinese Communist Party is now looking to support the housing sector.
