Reuters reporting on weekend comments out of China.
China's biggest cities including Beijing and Shenzhen said over the weekend:
- Beijing's housing ministry said it would take into account the city's real estate situation and work with relevant departments to implement the pledges of policymakers.
- Shenzhen made a similar statement.
- Guangzhou's housing ministry vowed to launch relevant policy measures as soon as possible.
There were no details given.
Property stabilisation steps are warmly welcomed by markets as effective stimulus from China. The sector is a key driver of the economy and has been mired in a debt implosion slowdown. However, markets want details, not these vague promises.
