China real estate: riding the cycle

China's real estate sector is all-important. In this report, we look back on 2017, assess the outlook and opportunities in 2018.

25 Feb 2018

After an extensive round of visits with Chinese real estate developers, we're thinking about prospects for China's real estate sector in the Year of the Dog.

After a longer than usual debate with our credit analysts and portfolio managers at our recent investment meeting, three issues were top of mind:

Will China's real estate sector support the economy in 2018? Will developers start piling up inventory again, and why is the real estate cycle longer this time round?

Our rounds of meetings with real estate developer CEOs and CFOs in China yielded some fascinating insights, and we have built them into our outlook for China's real estate sector, economy, and bond markets in 2018.

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