Market comment 2023

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It’s hard to overstate the importance of the property market China. The industry accounts for as much as 30% of the country’s economic activity, and more than two-thirds of household wealth is tied up in real estate. But nearly three years of “zero Covid” restrictions sapped China’s economic growth, and consumers have been reluctant to buy new homes in the face of higher unemployment and falling property values.

Evergrande’s bankruptcy may be just the beginning of China’s real estate crisis

Over the past year, the Financial Times has identified more than 110 large-scale manufacturing announcements — including in semiconductors, electric vehicles, batteries and solar and wind parts — spurred by the landmark legislation. We have examined them and spoken to experts, and here is what we have learned

.Inside the $220bn American cleantech project boom | Financial Times