Deleveraging Finally Begins in China?

Although the term deleveraging has been thrown around for years in China, actual deleveraging has yet to take place: until now?

iFeng: 专家谈房地产市场当前局势:在去杠杆通道中前行
Chen Sheng, executive director of China Real Estate Data Research Institute, told reporters that the transaction from the hot city fell sharply in January, the property market during the Spring Festival trading volume deserted, and bond financing basically stagnated, personal mortgage interest rates from the real estate market, vice chairman of the China Real Estate Research Institute, from the view of tightening credit and other trends, the "leveraged property market" is entering the slow path of deleveraging.
Home and land sales collapsed in January:
According to the China Index Research Institute, in January this year, a total of 300 cities nationwide transactions of residential land (including residential land and residential land with integrated land) was 477, a decrease of 54% month-to-month, down 17% year-on-year; turnover of 23.18 million square feet M, decreased by 53% mtm.

Correspondingly, the country's 300 residential land (including residential land and residential land with a comprehensive land) to sell a total of 206.5 billion yuan, a decrease of 46% mtm, an increase of 51% yoy.

"In January, the hot city transaction data dropped significantly, bond financing basically suspended, is expected to continue to adjust the property market." Chen Sheng Shang Zhengbao said that this information means that 2016 "leveraged on the property market" is slowly into the deleveraging channel.

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