The number of billionaires in China declined in 2024 compared to the previous year, according to the UBS Billionaire Ambitions Report 2024. The drop is attributed to challenges in the country's property market and financial sector turbulence.

China sees sharp drop in billionaires: 93 fall off the list as wealth plunges 20% in 2024

China is focused on changing its tax structure on residential property transactions. This they are doing to lower the cost of ownership and to try to extend fresh incentives to a wider pool of buyers.

To boost property sales, China unveils new tax breaks: Report

In a recent statement, renowned investor Ray Dalio has called for China to adopt a dual approach in its economic strategy, advocating for a combination of stimulus measures and what he terms "beautiful deleveraging.

China must pair stimulus with "beautiful deleveraging", says Ray Dalio

China's central bank has issued a directive for financial institutions to begin reducing interest rates on existing mortgages, marking a pivotal step in the country’s efforts to support its struggling economy.

China tells banks to start cutting rates on existing mortgages