Problems in China's property market However, the Chinese government may be reluctant to see work halt on property developments in China, where many would-be homeowners are waiting for homes they have already paid for.
Problems in China's property market are having a major impact as the sector accounts for around a third of the world's second largest economy.
The industry has been facing a major financial squeeze since 2021, when authorities introduced measures to curb the amount big real estate developers could borrow.
Since then several large property firms have defaulted on their debts.
On Monday, official data showed that property investment in China fell 9% in January and February from a year ago.
New construction starts also dropped by 30% which was their worst fall in more than a year.
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