The slump in China’s property market has not yet bottomed out and will continue to be a drag on economic growth, former finance minister Lou Jiwei warned, calling for expansionary fiscal and monetary policies as well as structural reforms to counteract the sector’s persistent headwinds.
While Lou said real estate is unlikely to be a source of systemic risk – a source of concern after China’s largest developers faced rolling liquidity crises that left many homebuyers without the flats they had…