China introduces 16 measures to support developers

The Chinese government is implementing 16 measures to support developers. Against the background of the announced support, the shares of China’s largest developers are starting to grow rapidly. It is for this reason that on Friday, November 11, shares of Chinese developers rose by 30-50%. To date, the largest developer in China is the company “Country Garden”. About 60% of Country Garden is owned by Yang Huiyan (China’s richest woman).

These measures indicate that China has begun to actively rescue the economy. Initially, the government hinted that tough coronavirus restrictions would be gradually lifted. On Friday, November 11, 2022, China eased some of the covid restrictions, and now moved on to bail out the property market. Support measures for developers will have a stimulating effect on the economy. Therefore, in the short term, we can see the growth of the Chinese stock market.