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It’s been some time since companies could raise cash in debt markets and come away feeling like they got the better end of the deal.
China’s all-or-nothing stock market is losing momentum, after three months of what might be best described as forced buying of a deeply oversold asset.
New Statistics Canada data shows investors made up almost one third of homeowners in some provinces in 2020.
A gauge of US services snapped back in January after an end-of-2022 slump, suggesting a resurgence in consumer demand that leans against concerns of an imminent economic slowdown.
Sales in the Toronto housing market ground to the slowest pace since the first month of the pandemic as buyers contend with some of the highest borrowing costs they’ve seen in 15 years.
Apr 8, 2019
Bloomberg News
,(Bloomberg) -- China’s latest step to encourage 100 million rural citizens to move to cities may provide a timely boost to a slowing property market.
Cities with an urban population of between 1 million to 3 million should scrap the residency registration system -- known as hukou -- this year, the National Development and Reform Commission said Monday. Cities with a population of 3 million to 5 million should substantially ease residency requirements.
Reforming the 60-year-old hukou system, akin to an internal passport that determines where people can live and work, may help equalize what is now one of the world’s biggest gaps between rural and urban per-capita incomes. The move may also help boost housing demand in smaller cities, underpinning property prices.
“It’s good news for property markets in mid-to-small cities near a large hub,” said Van Liu, an analyst at Guotai Junan International Co. “It will also offset the blow from slower shantytown redevelopments this year.”
Municipal authorities across China had used the hukou system to curb property speculation when prices were surging -- either by banning purchases by someone without a hukou or limiting the number of properties they could buy.
However, more than 50 cities have eased hukou restrictions this year as part of a “stealth easing” now that prices are cooling, according to Zhang Dawei, an analyst at Centaline Group.
To contact Bloomberg News staff for this story: Emma Dong in Shanghai at edong10@bloomberg.net;Amy Li in Shanghai at yli677@bloomberg.net
To contact the editors responsible for this story: Katrina Nicholas at knicholas2@bloomberg.net, Peter Vercoe
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