There is “certain turbulence” and “signs of decline” in China’s real estate market, “but it is only normal adjustment” said Premier Li Keqiang at Q&A session with members of the International Business Council of the World Economic Forum (WEF) in Davos, Switzerland. The demand remains strong and will be able to “gradually offset” any overcapacity in the home-building sector. The current trend shows the Chinese economy is entering a state “a new normal” and is not heading for a “hard landing,” added Li in a keynote speech in line with this year’s theme for the forum: The New Global Context. The government seeks “to foster a new engine of growth” through “mass entrepreneurship and innovation, (improved) supply of goods and services, and (further) trade and investment liberalization and facilitation,” the Premier stressed.
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