China’s real estate market is undergoing a crisis with sluggish sales and a slow economic recovery. Meanwhile, Chinese state-owned enterprises (SOEs) are rapidly gaining dominance in real estate sales, while private companies, including giants like Evergrande Group and Country Garden, face looming debt defaults. This power shift is raising questions concerning the Chinese regime’s intent to expand the SOEs and its implications for the broader economy. This phenomenon in the Chinese economy gave rise to the catchphrase, “The state enterprises advance, the private sectors retreat,” meaning that the SOEs are expanding and forcing out private companies. The regime would generally favor SOEs in policies and subsidies and, therefore, gradually eliminate competitors from the market. This trend signals that China’s real estate power landscape is facing a major reshuffling. Real estate contributes to around 30 percent of China’s GDP and is, therefore, critical to the stability of the country’s economy....Read more https://www.theepochtimes.com/china/chinas-state-owned-enterprises-rise-as-private-companies-face-collapse-in-real-estate-turmoil-5523667