0641 GMT - China's property-sector downturn doesn't have a quick fix, Goldman Sachs economists write in a note. The industry faces structural challenges, and there is limited policy support for housing destocking, they add. The recent property easing measures may help boost sector financing, home completions and sales in some large cities, but lower-tier cities still face strong headwinds due to weaker growth fundamentals, they say. The National Bureau of Statistics' 70-city house price data suggests that the weighted average property price in the primary market rose 0.5% on month in December after seasonal adjustments. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
January 17, 2025 01:41 ET (06:41 GMT)
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