China Shifts Toward Easing as Property Downturn Hits Growth
- PBOC releases $188 billion of reserves into banking system
- Politburo signals easing of some property curbs in 2022
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China’s policy makers moved to expand support for the nation’s economy as a property-market downturn threatens to hamper growth into next year.
President Xi Jinping oversaw a meeting of the Communist Party’s Politburo on Monday that concluded with a signal of an easing in curbs on real estate. The leadership panel, gathering in advance of a broader annual economic session that sets goals for the coming year, pledged to stabilize the economy in 2022. That’s amid a liquidity crunch among developers that’s roiled the nation’s bond market.