The National Bureau of Statistics says the property sector is shifting from high-speed development to stable development in the medium to long term.
the sector is "indeed under pressure in the short term" and that the situation is "worse than expected," according to a CNBC translation.
"Of course it justifies a little bit bigger... fiscal and monetary stimulus, but if you look at the whole year, even with 6.3% growth in Q2, we can still reach 5% annual growth without a big problem," she added. "Overall picture is kind of rosy. It's not difficult to reach the annual target, then there's not much incentive for the central government to extend the stimulus," Wang said.On Monday, data also showed new housing starts, in terms of area, decreased 24.3% in the first half of the year from a year ago, while completed housing stock rose nearly 19%.
The broader economic slowdown has also led many to save the capital that could have been put toward housing purchases and investment.extended loan relief
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