Announcements revive stocks, property in large cities
Confidence has not fully returned, analysts say
Wouldbe homebuyers wait for stimulus details
SHENZHEN, China, Oct 14 Reuters Chinese finance industry professional Zhang Jing made enough money from a recent stock market rally to consider hopping on the housing ladder but wants to hear more from the government before making a purchase.
I still don39;t have enough confidence, said the 28yearold, who believes buying a first home will improve his chances of finding a marriage partner.
I need to see how things develop. I hope the government can introduce some effective policies to stimulate the economy, he said at a major property fair in the southern tech hub of Shenzhen held over the weekend.
Homebuyers, investors and consumers are buzzing in anticipation of promised economic stimulus but byandlarge are hesitant to make the big spending decisions that would collectively turn around a slowing economy a dynamic on full display at the expo in what was once China39;s biggest boomtown.
On Saturday, Minister of Finance Lan Foan said the government planned to significantly increase debt to revive economic activity though he did not elaborate on size or timing, disappointing many who tuned in.
Details might be missing for procedural reasons Extra debt issuance needs approval by parliament which is set to meet in coming weeks. However, incremental and incomplete announcements are at odds with the urgency required of an…