I discovered this chart to be a remakable one, given all of the speak about extra Chinese language debt. It is true that is largely native authorities debt however this chart highlights simply how a lot house Beijing has to stimulate in 2024 if it needs.
The consensus perception is that China is making an attempt to squeeze the surplus out of the true property market and that is actually been supported by China’s actions in 2023 however with inflation flat y/y and borrowing prices ultra-low, it is solely a matter of time till they hit the fuel pedal.
China 30 yr bond
