China grapples with a colossal housing crisis, with millions of unoccupied apartments and unfinished developments, threatening its economy. Beijing s plan involves massive state intervention, buying unsold properties and converting them into social housing. However, doubts still persist about its adequacy and efficacy, raising concerns about the broader economic impact on China
CHINA has a housing problem. A very big one. It has nearly 4 million apartments that no one wants to buy, a combined expanse of unwanted living space roughly the area of Philadelphia.