
HSBC, whose relatively bullish view on China’s residential property sector ranks as one of the bravest calls in markets, said in February that 2025 would mark an inflection point for the ailing industry. “We’ve long anticipated government intervention, pent-up demand and a necessary market correction to drive a gradual recovery in property sales – and we’re seeing signs of all of that playing out now,” HSBC said at the time.
These green shoots, however, were confined to first-tier cities and had...
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