Prospects for European companies in China hinge on the government’s ability to revive the ailing property sector, according to the European Union Chamber of Commerce in China. The recently announced US$586 billion economic stimulus package includes provisions for low-cost housing, while measures have been announced to ease mortgage financing, in a bid to turnaround slowing sales volume and tumbling prices. "Kick-starting of the real estate sector has probably the biggest impact on the real economy when it comes to the bigger items that European companies are interested in," said Joerg Wuttke, the chamber’s president. He noted that a revived property market would create a knock-on demand for many of the products that European firms sell in China. Wuttke also praised the stimulus package but expressed concern about the transparency of the spending and whether EU companies would have a fair chance of winning contracts, Rers reported.
You must log in to post a comment.
Yes, I would like to receive emails from China Economic Review. (You can unsubscribe anytime)
Copyright © 2018 SinoMedia Group Limited All rights reserved