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Markets have responded optimistically to news of a
Chinese property rescue fund...
...But the sums involved are too small to save the sector, and likely have more modest aims.
The growing role of the central government is nonetheless an encouraging signal; more is needed.
commodities, construction, construction sector, credit, developers, employment, government, homebuyers, inventories, July, May, mortgages, policy, profit margins, raw materials, real estate, rental property, rmb, Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence