{"id":1439,"date":"2019-01-15T11:40:47","date_gmt":"2019-01-15T11:40:47","guid":{"rendered":"http:\/\/pgawards.wpengine.com\/?p=1439"},"modified":"2021-06-04T14:08:05","modified_gmt":"2021-06-04T07:08:05","slug":"what-chinas-reduced-rrr-means-for-real-estate","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/what-chinas-reduced-rrr-means-for-real-estate\/","title":{"rendered":"What China\u2019s reduced RRR means for real estate"},"content":{"rendered":"<p><strong>Beijing sending signal that it is loosening monetary policy after years of deleveraging<\/strong><\/p>\n<figure id=\"attachment_1440\" aria-describedby=\"caption-attachment-1440\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"size-full wp-image-1440\" src=\"http:\/\/pgawards.wpengine.com\/wp-content\/uploads\/2019\/02\/What-China\u2019s-reduced-RRR-means-for-real-estate.jpg\" alt=\"\" width=\"1000\" height=\"667\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/02\/What-China\u2019s-reduced-RRR-means-for-real-estate.jpg 1000w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/02\/What-China\u2019s-reduced-RRR-means-for-real-estate-300x200.jpg 300w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/02\/What-China\u2019s-reduced-RRR-means-for-real-estate-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-1440\" class=\"wp-caption-text\">Chinese yuan notes and coins. maoyunping\/Shutterstock<\/figcaption><\/figure>\n<p>Monetary easing\u00a0will impact China\u2019s real estate sector slowly, according to a note this week by CBRE.<\/p>\n<p>Chinese regulators retain a cautious approach towards real estate financing, meaning that the effect of monetary easing and the lower cost of capital will impact the real estate sector \u201cgradually,\u201d said Sam Xie, head of research for China at the consultancy.<\/p>\n<p>Also, CBRE believes domestic investment demand for commercial real estate could improve in the second half of 2019, supporting asset prices, he added.<\/p>\n<p>Talk of relaxation in the mainland&#8217;s\u00a0monetary policy\u00a0mounted after the People&#8217;s Bank of China (PBoC) announced it would lower banks&#8217; required reserve ratio (RRR) by 100 bps today, 15 January. It marks the first across-the-board cut to the RRR since April 2016.<\/p>\n<p>The RRR will be reduced by another 50 bps on 25 January in a move to infuse the economy with an estimated CNY800 billion (USD118.5 billion) of liquidity. Further RRR cuts may be considered in the coming months.<\/p>\n<p>\u201cWhile authorities continue to stress the principle of \u2018housing without speculation\u2019, local policy implementation is expected to become more flexible this year,\u201d Xie stated.<\/p>\n<p>Several\u00a0cities have already lifted property curbs, while commercial banks have reduced mortgage interest rates. Should economic performance falter, the government is expected to loosen its grip even more.<\/p>\n<p>Beijing\u2019s moves are happening against a background of acrimonious trade ties between the US and China. Xie exhorted occupiers and investors to keep themselves abreast of the latest developments ahead of the 90-day truce\u2019s expiry in March.<\/p>\n<p>Occupiers and investors should also prepare for the possibility of the further weakening of the CNY, he warned. Since 2018, China\u2019s monetary policy has gradually diverged from that of the US, with the latest RRR cut coming on the heels of the\u00a0Federal Reserve\u00a0interest rate hike last month.<\/p>\n<p>\u201cThis indicates that PBoC strategy will now be driven more by domestic economic factors, rather than external alignment. It also implies that currency value will take secondary priority,\u201d Xie said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Beijing sending signal that it is loosening monetary policy after years of deleveraging<\/p>\n","protected":false},"author":2,"featured_media":19825,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1439","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-report","news_country-china","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What China\u2019s reduced RRR means for real estate | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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