Speakers:
Michael Pettis, Professor of Finance, Peking University
Hui Shan, Managing Director and Chief China Economist, Goldman Sachs

Concluding Remarks:
William Overholt, Mossavar-Rahmani Center for Business and Government, Harvard Kennedy School

Moderators:
Richard Yarrow and Jinlin Li, Mossavar-Rahmani Center for Business and Government, Harvard Kennedy School

Real estate has had a vast influence on China’s economy. In particular, real estate has taken a massive role across China’s financial system — accounting for an estimated 70 percent of Chinese households’ assets, 30 percent of local governments’ revenues, and almost 30 percent of all outstanding bank loans before the pandemic.

As China’s real estate sector faces a sharp crisis, what are the implications for the financial system and the financial health of China’s broader economy? What are China’s debt risks as real estate prices plateau or fall?

Please join experts on China’s financial sector for this discussion. This event is the second in a series on China’s real estate sector and its broader economic effects.