អ្នក​ហិរញ្ញវត្ថុ​ចិន​មាន​មន្ទិល​ចំពោះ​ការ​អំពាវនាវ​សង្គ្រោះ​អចលនទ្រព្យ​របស់​ទីក្រុង​ប៉េកាំង

China’s efforts to free its economy from the weight of its troubled property sector seems to be getting new epilogues each day. The scare of a US-style 2008 collapse is pushing the government to introduce new policies and call on the private and public sectors to help shoulder some of the burdens. 

Thus, China’s state-backed financial institutions are pushing back on Beijing’s calls to help out the property sector, as they worry what impact it may have on its balance sheets, as រ៉យទ័រ របាយការណ៍ នៅខែសីហា 25 ។

It appears that these financial institutions require Beijing to explicitly offer a financial backstop to ensure that the default of developers will not be born by them. 

Property investments, home sales, and new constructions កំពុងធ្លាក់ចុះ as the current and brewing troubles scare off potential buyers, who might be afraid that the recovery is in doubt despite the additional support. 

Closed-door meetings

បើយោងតាមឧតាមប៉ាន់ស្មានរបស់ឧស្សាហកម្ម Gartner ក្នុងឆ្នាំ២០២១ បានឲ្យដឹងថា ការចំណាយរបស់អ្នកប្រើប្រាស់ចុងក្រោយលើសេវា public cloud បានកើនឡើងយ៉ាងខ្លាំង។ តួលេខនេះគឺគួរឱ្យភ្ញាក់ផ្អើល ដោយមានការប៉ាន់ប្រមាណការចំណាយគឺ ៣៩៦ ពាន់លានដុល្លារក្នុងឆ្នាំ ២០២១ និងកើនឡើង ២១.៧% ដល់ ៤៨២ ពាន់លានដុល្លារក្នុងឆ្នាំ ២០២២។ លើសពីនេះ Gartner ព្យាករណ៍ពីការផ្លាស់ប្តូរដ៏សំខាន់នៅក្នុងការចំណាយផ្នែកព័ត៌មានវិទ្យារបស់សហគ្រាស ជាមួយនឹងការចំណាយលើ public cloud លើសពី ៤៥% នៃការចំណាយសរុបនៅឆ្នាំ ២០២៦ តិចជាង ១៧% ក្នុងឆ្នាំ២០២១។ ការប៉ាន់ប្រមាណនេះ ឆ្លុះបញ្ចាំងពីការកើនឡើងនូវការកោតសរសើរ ចំពោះអត្ថប្រយោជន៍របស់ cloud ទាក់ទងនឹងការធ្វើមាត្រដ្ឋាន ភាពបត់បែន និងការបង្កើនប្រសិទ្ធភាពតម្លៃ។ រ៉យទ័រ the authorities in China held numerous closed-door meetings during which they tried to get banks and other financial institutions on board with the rescue plan. It seems that the People’s Bank of China (PBOC) is nudging state-backed financial firms to support the plan but has not yet issued any orders to do so. 

Furthermore, loans granted by the banks to developers dropped by 36.8% in July, while capital raised from offshore bonds plummeted by 200%. While financial firms often subscribe to new bond offerings, this time around they seem to be skipping over some of the offers as the possible volatility could bankrupt the អ្នកគ្រប់គ្រងទ្រព្យសម្បត្តិ. 

Stalled recovery

At the moment, developers are scrambling to finish apartment construction since homebuyers are threatening to stop paying mortgages, and the lack of liquidity offered by financial institutions is slowing them down. 

Market analysts predict that this drag on the Chinese economy will most likely be a protracted one and will also be felt next year. Whether this morphs into a 2008-like housing crash crash seen in the US is still uncertain, as the effect of the policy measures is difficult to gauge. A possible key to recovery will be the buyer’s confidence and the ability of developers to finish construction on time.   

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