China's Structural Stagnation: A Deep Dive into Commerzbank's Outlook

Commerzbank's Dr. Henry Hao argues China's housing market remains in structural stagnation five years after the Evergrande crisis, signaling a fundamental shift in China's growth model. This report analyzes the drivers, technical outlook, risks, and institutional implications of this prolonged economic deceleration, emphasizing a move away from debt-fueled property towards consumption and innovation.