China’s tottering property market presents one of the greatest threats to the global economy. Not only do the construction and real estate industries account for a full 13 per cent of Chinese gross domestic product, they also form the backbone of the country’s fixed asset investment, the lodestar for commodity-exporting economies the world over. News of sagging real estate market activity is, therefore, a concern in its own right. More troubling, though, is that faith in Beijing’s ability to prevent a slump from descending into a crash is starting to unravel.
中國搖搖欲墜的房地產市場對全球經濟構成最大威脅之一。建築和房地產行業不僅佔中國國內生產毛額(GDP)的高達13%，它們還構成中國固定資產投資（世界各地大宗商品出口國的指路明燈）的主幹。因此，有關房地產市場活動疲弱的訊息本身就令人擔憂。更令人不安的是，人們對北京方面阻止低迷失控、進而發生崩盤的能力開始失去信心。
您已閱讀14%（720字），剩餘86%（4278字）包含更多重要資訊，訂閱以繼續探索完整內容，並享受更多專屬服務。