China’s property slump is far from bottoming. But Beijing is prioritizing tech growth

Key Points

Chinese policymakers will likely focus more on tech development than real estate as tensions with the U.S. escalate.
“The government believes the property market is bottoming,” said Zhu Ning, author of “China’s Guaranteed Bubble.”
But he believes “it is a gradual process and may take more time before reaching the bottom.”

Source

Finance

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Key Points China on Thursday wrapped up a four-day meeting that laid out broad development priorities for the next five years. Analysts noted a significant change in Beijing’s emphasis on consumption, while adhering to plans for boosting tech self-reliance and manufacturing. The gathering comes as tensions between China and the U.S. have escalated. Source

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