·HSK 6

China property crisis deepens
zhōngguó fángdìchǎn wēijī jiāshēn
中国房地产危机加深
。

Country Garden, one of Chinas largest developers, faced severe difficulties amid industrywide property sector collapse

zhōngguó zuì dà fángdìchǎn kāifāshāng zhī yī bìguìyuán zài fángdìchǎn xíngyè zhěngtǐ shuāituì zhōng miànlín yánnjùn kùnnjìng

中国最大房地产开发商之一碧桂园在房地产行业整体衰退中面临严峻困境

。

February 28, 2024 at 2:00 PM

Chinas property sector experienced unprecedented systemic crisis between 2023 and 2024

zhōngguó fángdìchǎn xíngyè zài èr líng èr sān zhì èr líng èr sì niánjiān jīnglì le qiánsuo wèiyǒu de xìtǒng xìng wēijī

中国房地产行业在二零二三至二零二四年间经历了前所未有的系统性危机

。

Evergrande was ordered to liquidate

héngdà jítuán yǐ bèi zérìng qīngsuàn

恒大集团已被责令清算

，

while Country Garden barely survived the crisis

ér bìguìyuán suīrán miǎnqiǎng dùguò wēijī

而碧桂园虽然勉强渡过危机

，

it still faced defaults and distress in 2024

dàn zài èr líng èr sì nián réhuán yīn wéiyuē ér xiànrù kùndùn

但在二零二四年仍因违约而陷入困顿

。

the entire industry faced over 300 billion dollars in debt defaults

zhěnge xíngyè miànlín chāoguò sānqiān yì měiyuán de zhàiwù wéiyuē

整个行业面临超过三千亿美元的债务违约

。

given the profound impact of real estate on growth, employment, and local finances

jiànyú fángdìchǎn duì jīngjì zēngzhǎng、jiùyè hé dìfang zhèngfǔ cáizhèng de shēnkè yǐngxiǎng

鉴于房地产对经济增长、就业和地方政府财政的深刻影响

，

the crisis created multiple pressures on the Chinese economy

wēijī duì zhōngguó jīngjì zàochéng le duō zhòng yālì

危机对中国经济造成了多重压力

。

although the central government introduced stimulus measures

zhōngyāng zhèngfǔ suīrán tuīchū cìjī cuòshī

中央政府虽然推出刺激措施

，

their effectiveness and scale remained questioned

dàn qī yǒuxiàoxìng hé guīmó réhuán shòudào zhìyí

但其有效性和规模仍然受到质疑

。

analysts point out

fēnxī rénshì zhǐ chū

分析人士指出

，

structural problems in Chinas property market require long-term institutional reform to resolve fundamentally

zhōngguó fángdìchǎn shìchǎng de jiégòu xìng wèntí xūyào chángqī de zhìdù gǎigé cáinéng gēnběn jiějué

中国房地产市场的结构性问题需要长期的制度改革才能根本解决

。

New Words

Zhongguo

中国

China

fangdichan

房地产

property

hangye

行业

industry

weiji

危机

crisis

hengdA

恒大

Evergrande

bigui yuan

碧桂园

Country Garden

zhaiWu

债务

debt

weiyue

违约

default

jingji

经济

economic

gaige

改革

reform

News in English

Business

China Property Sector in Crisis as Country Garden Struggles

China property sector collapsed in 2023-2024 with Country Garden and Evergrande facing default, over 300 billion dollars in developer defaults, government stimulus uncertain.

Chinas property sector experienced unprecedented systemic crisis between 2023 and 2024. Evergrande was ordered to liquidate, while Country Garden barely survived the crisis but still faced defaults and distress in 2024. The entire industry faced over 300 billion dollars in debt defaults. Given the profound impact of real estate on growth, employment, and local finances, the crisis created multiple pressures on the Chinese economy. Although the central government introduced stimulus measures, their effectiveness and scale remained questioned. Analysts point out structural problems in Chinas property market require long-term institutional reform to resolve fundamentally.

China property crisis deepens
zhōngguó fángdìchǎn wēijī jiāshēn
中国房地产危机加深
。

New Words

News in English

China Property Sector in Crisis as Country Garden Struggles

More in Business

International Monetary Fund (IMF)
Guójì Huòbì Jījīn Zǔzhī
国际货币基金组织
and / with
yǔ
与
World Bank
Shìjiè Yínháng
世界银行
annual meeting
niánhuì
年会
in
zài
在
Bangkok
Màngǔ
曼谷
officially / formally
zhèngshì
正式
to open / to commence
kāimù
开幕
。

Canada
Jiānádà
加拿大
trade
màoyì
贸易
minister
bùzhǎng
部长
to lead
shuài
率
300 people
sān bǎi rén
三百人
delegation
dàibiǎotuán
代表团
to go to
fù
赴
India
Yìndù
印度
to visit
fǎngwèn
访问
。

China property crisis deepenszhōngguó fángdìchǎn wēijī jiāshēn中国房地产危机加深。

New Words

News in English

China Property Sector in Crisis as Country Garden Struggles

More in Business

International Monetary Fund (IMF)Guójì Huòbì Jījīn Zǔzhī国际货币基金组织and / withyǔ与World BankShìjiè Yínháng世界银行annual meetingniánhuì年会inzài在BangkokMàngǔ曼谷officially / formallyzhèngshì正式to open / to commencekāimù开幕。

CanadaJiānádà加拿大trademàoyì贸易ministerbùzhǎng部长to leadshuài率300 peoplesān bǎi rén三百人delegationdàibiǎotuán代表团to go tofù赴IndiaYìndù印度to visitfǎngwèn访问。

China property crisis deepens
zhōngguó fángdìchǎn wēijī jiāshēn
中国房地产危机加深
。

Canada
Jiānádà
加拿大
trade
màoyì
贸易
minister
bùzhǎng
部长
to lead
shuài
率
300 people
sān bǎi rén
三百人
delegation
dàibiǎotuán
代表团
to go to
fù
赴
India
Yìndù
印度
to visit
fǎngwèn
访问
。