Real-Estate

This matter deserves separate discussion because it directly impacts how we view Maotai. Previously, many people treated Maotai as an eternally rising consumption myth, and whether young people drank it or not was just a minor factor. Now, that is no longer the case. It is true that young people naturally have little interest in Baijiu (Chinese liquor), but this is more like a slow-moving variable. The sudden turnaround reported in the annual report appears to be driven by the contraction of an entire old system: obsolete business demands, traditional wealth distribution methods, and established status-driven consumption patterns.

Real estate giants’ top performers – Ever, also failed to hold up, continuous blood transfusions for Sunshine Steel, ultimately couldn’t plug the ever-growing hole. Linkage news: Six major banks completely halt sales of 5-year large savings bonds for five years.

Analyze China’s real estate defaults, compile timelines and key events, Evergrande, Greentown, Vanke, and other unlisted property developers I may not know about.

This overview is based on the latest perspective as of December 2025, covering the complete timeline from the initial crisis to the current period (end of 2025).

• Cancellation of Property Mortgage Interest Rate Floor
• Public Housing Fund (Prudential Loan) Interest Rate Will Be Reduced by 0.25% Starting Tomorrow
• First-Time Homebuyers Down Payment Ratio Reduced to 15%
• 300 Billion Yuan in Guaranteed Affordable Housing Repurchase Loans

Cancellation of National-Level First and Second-Tier Commercial Personal Housing Loan Interest Rate Policy Lower Bounds

The Shanghai Headquarters of the People’s Bank of China, branches of the People’s Bank of China in provinces, autonomous regions, municipalities directly under the central government, and planned cities; branches of all state-owned commercial banks, Postal Savings Bank of China, and all joint-stock commercial banks: