China’s property sector, not its energy sector as originally planned, will be the focus of Beijing’s 10th industry-specific stimulus plan, said Cheng Siwei, a former vice chairman of the National People’s Congress Standing Committee. Cheng, who is now dean of the management faculty at Chinese Academy of Sciences’s graduate university, divulged the plan at a seminar on Saturday, the South China Morning Post reported. Cheng said the switch showed the prominence of the property sector in Beijing’s priorities. Analysts believe the news could bolster the mainland property stocks, but many believe further measures to boost demand won’t do much to turn around the sector. They argue that direct financial assistance for developers would be more useful.
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