Excess supply across the residential, office, and retail sectors in urban China are now a drag on economic performance, and market easing policies to date may not be adequate to prevent a hard landing. In light of these trends, the speakers discussed factors including: changes in real estate demand drivers, supply overhang, diverging trends across city tiers, regulatory and policy dynamics, the outlook for market recovery, and the impact on the macro-economy.
David Wong is Shui On Land’s Chief Economist and the Director of Development Research. He is responsible for macroeconomic analysis, city screening, property policy research, and leads a team to undertake development feasibility analysis and market trend research. He joined Shui On Group in 1996 and has over 25 years of experience in business strategy and property market analysis. Previously, he was Assistant Chief Economist of Hong Kong Trade Development Council. He holds a BA from the University of Minnesota and an MA in Economics from the University of California, Berkeley. He is a member of Asia Society, Urban Land Institute and China Strategic Thinkers
Joe Zhou is the Head of Research for Jones Lang LaSalle in Shanghai and East China. He works with a team of 16 researchers in Shanghai, Wuhan and Nanjing to cover the office, retail, residential, and industrial property sectors in key cities. He is also responsible for JLL’s regular research publications, tracking and analyzing government policies and economic data, and updating internal and external clients on the implications of related economic or policy changes. He holds a BA in Civil Engineering from Tongji University, an MA in Construction Economics and Management from University College of London (UCL), and an MA in Housing from London School of Economics and Politics (LSE).
Photo credit (Ordos ghost city): Michael Christopher Brown for TIME