(Bloomberg) -- China is considering a new funding option for local governments to buy unsold homes after a series of rescue packages failed to prop up the...
-- China is considering a new funding option for local governments to buy unsold homes after a series of rescue packages failed to prop up the market, according to people familiar with the matter.The latest proposal would allow local governments to fund their home purchases by issuing so-called special bonds, the proceeds of which are currently restricted to uses including infrastructure and environmental projects, the people said, asking not to be named discussing private information.
Still, investors remain skeptical that the easing measures unveiled so far are sufficient to stop the freefall in the housing market. China’s new-home sales fell 19.7% from a year earlier in July, while first-hand home prices dropped at their fastest pace on a year-on-year basis in nine years. China is facing mounting challenges from rising US tariffs to high youth unemployment. The question now is whether authorities can muster the right mix of financial firepower and policy adjustments to bolster confidence without returning to the speculative excesses of previous decades.
Tomorrow afternoon, Premier Doug Ford and Minister Sylvia Jones are anticipated to announce devastating changes to provincial funding for safe consumption sites and overdose prevention all across Ontario at the Association of Municipalities of Ontario 2024 Conference in Ottawa.Dow Jones futures dipped Tuesday as Lowe's missed sales estimates. Tesla stock rallied on an European Union tariff cut.
Local Governments China Home Purchases
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Alibaba’s Long-Awaited China Stock Link May Provide Timely Boost(Bloomberg) -- Chinese investors finally being able to buy shares of Alibaba Group Holding Ltd. may provide a much-needed boost for the e-commerce firm’s...
Read more »
BMW recalls 1.3 million vehicles in China that may have Takata airbag inflatorsBEIJING (AP) — BMW was recalling more than 1.3 million vehicles in China that might have Takata airbag inflators following a similar recall in the United...
Read more »
Cambrian Players celebrating 75th season with three different showsLocal actors will perform shows in November, March, and May.
Read more »
Spain opens women's basketball at Olympics with overtime win against China ChinaMaria Araujo hit a 3-pointer with 3:06 left in overtime as Spain finished off a rally and beat China 90-89 on Sunday to open women's basketball group play at the Paris Olympics with a flourish.
Read more »
Philippines, China trade blame after vessels collide in South China SeaThe Philippines and China accused each other on Monday of ramming vessels and performing dangerous maneuvers in the South China Sea, the latest flare-up after the two nations agreed last month to try to manage disagreements at sea.
Read more »
Provincewide heat wave takes toll on local wildlifeHere's how you can support heat-affected wildlife this summer.
Read more »