Deutsche Bank's chief economist for greater China, Jun Ma, said the annual meeting of the Central Economic Work Conference, which concluded Monday, left him with the impression that China welcomes further gains in real estate prices in the absence of an external driver for the economy.
Among the pro-consumption measures laid out, leaders said they would continue to extend support for first home buyers and those who are looking to upgrade
"This suggests that the government is not ready to take tough measures to cool off the real estate market before export growth recovers to a comfortable level," said Ma in a research note Tuesday.
