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International Business Times
International Business Times
Business
Peter CATTERALL

China Says Could Buy Up Commercial Housing To Boost Property Market

China
A debt crisis in China's property sector has dealt a severe blow to the country's economy (Credit: AFP)

A top Chinese economic official said Friday the state could buy up commercial real estate in a bid to boost the country's ailing housing market, currently battling an unprecedented debt crisis.

Property and construction accounts for more than a quarter of gross domestic product, but the sector has been under unprecedented strain since 2020, when authorities tightened developers' access to credit in a bid to reduce mounting debt.

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International Business Times UK
International Business Times UK
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