China's measures to shore up its indebted property sector

China's property market, once a major contributor to its economy, has faced a debt crisis since mid-2021, leading to numerous developer defaults. In response, the government has implemented various measures in 2023 to stabilize the sector, including ending the "three red lines" policy, allowing loan extensions, and launching a pilot program for REITs. Major cities have eased home purchase restrictions, and the central bank has introduced stimulus packages, including interest rate cuts and downpayment reductions. These efforts aim to revitalize the struggling property market and support homebuyers.