China ’s property market faces a sharp decline as Chinese debt levels reach the perilous level of 240 % of GDP following a decade of over - borrowing and over - building . Property markets outside China ’s tier - two cities remain weak and the government is pushing for China ’s asset managers and banks to lend more credit to ailing property development companies and swap debt for equity . Meanwhile , Hong Kong ’s new ambitious $ 500 Goldin Tianjin development saw sales fall to HK$27 m in the six months to 30 September 2015 from HK$479 million a year earlier .
China’s property market faces a sharp slowdown as Chinese debt levels reach the perilous level of 240% of GDP following a decade of over-borrowing and over-building. Property markets outside China’s tier-one cities remain weak and the government is pushing for China’s asset managers and banks to offer more credit to ailing property development companies and swap debt for equity. Meanwhile, Hong Kong’s new ambitious $10bn Goldin Tianjin development saw sales fall to HK$27m in the six months to 30 September 2015 from HK$479m a year earlier.