China Consumption Unexpectedly Slows in Warning Sign to Economy
China’s economic recovery tilted even further toward manufacturing, leaving it more vulnerable to trade barriers and highlighting the stakes of a new bid to shore up domestic demand.
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China’s economic recovery tilted even further toward manufacturing, leaving it more vulnerable to trade barriers and highlighting the stakes of a new bid to shore up domestic demand.
China announced its most forceful attempt yet to shore up the beleaguered property market, easing mortgage rules and encouraging local governments to buy unsold homes from developers for conversion into affordable housing.
A new Asia hedge fund firm created by a former Goldman Sachs Group Inc. managing director will open its Hong Kong office at The Henderson.
Luxe hotelier Banyan Group is teaming up with developer RAV Bahamas Ltd. to create a lavish playground on the isle of Bimini, 30 minutes from Miami.
China’s strong economy and diverse trade partners will help mitigate the impact of additional US tariffs, according to a spokesperson for the nation’s statistics bureau.
Apr 11, 2024
The Canadian Press
The Canadian government will allow 30-year amortization periods on insured mortgages for first-time homebuyers purchasing newly built homes.
Finance Minister Chrystia Freeland made the announcement in Toronto today, saying it would take effect Aug. 1.
The Canadian Home Builders' Association has advocated for longer amortization periods, saying five more years would help with affordability and spur more construction.
Freeland also said the government will nearly double — to $60,000 — the amount first-time homebuyers can withdraw from RRSPs to buy a home.
That's up from $35,000, to take effect April 16, the day the federal budget is set to be released.
People who make such withdrawals between Jan. 1, 2022, and Dec. 31, 2025, are also getting more time to begin repayment — up to five years in total rather than two.
This report by The Canadian Press was first published April 11, 2024.