Several major Chinese banks have adopted a government led 16-point rescue plan to extend billions to struggling private developers to assist liquidity in the residential construction sector. Covid lockdowns have failed to see this stimulus result in demand increases, however, stocks in major developers jumped following the announcement and, once lockdowns ease and people can return to work, it is expected that there will be a resulting demand increase. It is estimated that around 20% of the economy is under some form of lockdown, and it makes it pretty challenging to feed logs into a sawmill. ...
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