JFIFHHBExifMM* k(172; ,U8iHHUnfinished buildings, abandoned part way through construction, in Wuxi, China, on Tuesday, May 16, 2023. China's economic recovery is losing momentum after an initial burst in consumer and business activity early in the year, prompting calls for more Adobe Photoshop 23.5 (Macintosh) (Adobe Photoshop 23.52023:08:25 11:58:59Qilai Shen(C) 2023 Bloomberg Finance LP ((C) 2023 Bloomberg Finance LP (Photographer) - [None]02310100&(. HH Adobe_CMAdobed            k" ?   3!1AQa"q2B#$Rb34rC%Scs5&DTdE£t6UeuF'Vfv7GWgw5!1AQaq"2B#R3$brCScs4%&5DTdEU6teuFVfv'7GWgw ?P5N8HjQ B}#wIbևU᧐U9 G̘@T H4[swnpk56c$*X- /!s3$b}PŘ^1p}-[Qqzh_%ۡI?>_ޒ|3Ko?R~ e_7]VDwIN `C{ tGO؟wy}3Q]5~IeNp-֎c!2uy4-K?6O$պOPc3u|DY&%Is%<$5`'T 1o 9P컪[[c8Iwqk_WDo%ίW=-Zq4p Mf&HDzl6}s 5%>zKW6]1\)qY]mٻCӉF6ߤn.~\,T^ vlJp6PE[:0*~=0ݶoэ՞﮿X5>N94+28]D0?99k߮XZ^GUcN9tXnۻX?4cas7lLj-kI8 *{7Kv;]9v7ikeifw52ȉRӺOAsP><41 MQ[qWS,TL8WV=k?rKw2׼;G'a金=movbT~AT4 9k}JIi}id}̌2+meL\}*To,?5{lyK>'@D|D'ʽc- 6bw?ȓ6AޛpϤdqvhwfuAq<0t NCTPl}7?"ʽ3VJS0+ť2>s`lx׵[G*]#֫ oTç1T)"?sK.}Kbtk5ٗkYsu9ގǻ{l)dA=MG/gT]`5VCc-elgOj $Uu|=OSpXs:1ifp*capRO60Vo~Ю:>Afx7XcK[ s湷~ߧD7Z{fO֎Y=c$]mcXݣT]ƻ*c^ ۍe@kU7M*_]}[} c]?W6N )f=mM,~6z~W?Хۢ*Dƾ}?=k>=_$:moa^q -ʷ:/h~_YW= εk]yşwg? *FQq׸awm{,k%F=i~574s.?Gֿbve[ks]9jSif[幮;ZYg}ba;x) k-5`wח~{o"RƼW"L7WV}|Vv7U~fg6eHR0WS*l}k-Uqi14=z@aEˑ]g%kHi}6;-F&u@"uYYMq1sHYNi {Y &?q6GIƻ/_LSwnUv[ck`#~Պ߬QŬcɂ>?{(4plmZ2T".a6&=SS[smhkqlߥkv%Xd׻{K_ i国ؑ tK7}wZEr^ۘOՒ2m /wmsŶ9޲1*Ӎ2j-K\t.Iާ/ z\:#VWѷ_O}; >iVa% qk7ehu>M6;\?DVKbm[@sl mFR4נ6o;\^[s/ީnN%5YUqUϢku$Kll#u=(cw<>8=G5*s@%9Zڬ ?M/Ȍ9A)xH@?;$]cCcTMsuJLDƓ7T9ĥ:m~Q-Ϋ*t驘'^y MN5sKggn߁koH1.Vt9FZ õ=u֪6inTnBZ)вPka:kŞ[e$ t6'|S;_E ¸_H$ vnak5WKZ9u kd"|O~Fo>~iJ0?{Bǩ.m6GŨH"i֓f6X>\tkETe?$eSjPhotoshop 3.08BIMMZ%Gx@Unfinished buildings, abandoned part way through construction, in Wuxi, China, on Tuesday, May 16, 2023. China's economic recovery is losing momentum after an initial burst in consumer and business activity early in the year, prompting calls for more policy stimulus to bolster growth. Photographer: Qilai Shen/BloombergzQS/JCidUnfinished Property Development In Wuxi As China's Waning Economic Recovery Spurs Calls for StimulusP Qilai Shenn Bloombergs BloombergCHINA PROPERTY720230515< 160000+0000ZWuxieChinag 775979203IFINChinese East AsianChinaResidential Real Estate IndustriesHousing MarketBRIC CountriesProperty, Real Estate Business NewsAsiaConstruction, Development Home Builderst© 2023 Bloomberg Finance LP.http://ns.adobe.com/xap/1.0/ Qilai Shen Unfinished buildings, abandoned part way through construction, in Wuxi, China, on Tuesday, May 16, 2023. China's economic recovery is losing momentum after an initial burst in consumer and business activity early in the year, prompting calls for more policy stimulus to bolster growth. Photographer: Qilai Shen/Bloomberg Chinese East Asian China Residential Real Estate Industries Housing Market BRIC Countries Property, Real Estate Business News Asia Construction, Development Home Builders CHINA PROPERTY © 2023 Bloomberg Finance LP FIN C    !'"#%%%),($+!$%$C   $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$J"J!1"AQaq#2BRbr$%345SstCcDd$!1aA"2Q ?(i~.:qTSiJ\Z\xp^# Uvۮ*lyqQo"6H;n4GI=!zӨ2zkF&NjA7(ʔp ޕT+Szw |h+ @w½N+B;ױҠ'=( 1#=M,S>0zt:R 6|+4%FG)~00H`exTXwGzL1ʅQ}ipϠ/q)QDŽcHv]W)[TN*uKeXѝImBܲe+(^Ppw ja~T0ev ⴗD~o9 _Ξ/JX6m2uՇ\=ڷJ}h=~uE>/I:} 8˯^2WMLӭi0#$F7Wa<\ѿ6ok+ {30vԄuI e$yFe_40}]riG~uOgqʾ'jD9y$Ptk1 R-\kmwFqҋi8P-Rb蠌\\8Zױ{x᫸OXnebd=5+ dSq{ 9$x"c0 uVŗ1JG?9$ft=hg8+RL`PYS$np-sT쫉PeWC~UiSM0 {AUNOI2at Po aL<=/GLJo[e$5f>!Lfl]SOƅj'e''MVwJQ42 ԓJGUK nj)g~hɛЇh=bj P6I]fF+<ը{,Ż?ʲwUzVF^lj/Z~f=yE{ W 4liy9}h;:yN1;/!Oi|R) 6+)^F@u,.PRI6d UG ୂ4<ļǩ4JE-# 'h:bEl&)}EITJ?q}F }*+S9RAj.+PڥDrI󨱡6ˆlͶO`zU!IA+881 G?T` ^"Exΐ6ޝu7ƐɅ5AڔVUJ`wNڏo}{5,ܡ>T6bN7iR3w _+Y 8at]w[<9!I? *ǽ Ϋ.jJIo:H;CG[hMTL=̑4ʡOR?x$Ͼ_ㅾ-+JBgp7;[3gIRI4F65[P$lO1ɤH2)Fi@q6إH=(ƞji .3@ 54 m0VaH#Lk4HdN|oˆ>Ut">ҿvI5LVT;En(8†NHyv'` h|+&8>FG+*;e3F!sG<2+Q1ڙ"\0ju33 vy{:_FyWA%#ջחŸD./|IAҦ_λ"K?Ŀo 3LnaT*0uuĄ.#Aђ|ym9H %KNŒ(/kNCFFͥɀƶh0IbFGJ!nyQaD;iL%yIޣj^&rsDR]+ш @1y͜΢ʐ` 睫lr3 x'aЋu4, v*/_BV#>t*)5VI=\gTt3%MW|hm 70[$n4"QQkRnSm*VHL}Qa*B6$" !ΑAf^t¢_/пk"U*㠤g((Vg@JA(R~oeΩs(mh Ԅ"w4%@I'RK5Svcӫpp$%<5ԭ#\\AbyN6n&W`r6*'#05]fǕXs NCM7Ǝn?f7EqG-5sP2s^O܌ 6*5ĺsr9LSQn Tr I'/tBFѵg^eY &D{YcT;cZkXŧxE㕗ƄZMmw=Z0с.khasxRDrj\Kgwwukqn$I-$*QQs8Jh$4gc_'Kx׺n]'3(Av9R=M٣hLl{G''F2lڥFNmWnb9~)pq'-R[yrC޳{9Zmڹ2l`# Nz֫dg iq[[=%2|6X--O àcpc!dDPX \6;c{[`' (A$Xo$g(;7N@[w 398#;oqA >Wn+>xv/.I&6<˸ۨA>񜍳ֆcmlCLM#H)pG_k%$\E\w*C3lv :5[Z4$I$tҿyCMX䓓GV(yvC_LXDH=zQ/=TYj 5#o %ѢcnYJU'\cf)iwdQ'o@(կ/I ۭ͝ZnmnҾR$Wzv]7&Ln.RWVWll8~)uBKe b G{r6މpotW Q(XX$ tޫO0i1U۫8òO[1!ٱd epZD_*CٱLG-z8NkC- \ԍ LPR;*|+!@Nxv,,{I29SE5%'ʀ+뚥kI ‹ϡz.32ƤY@: ؒ/cPv銙4n;">ɨ`ܴKU<Ǘ2hꗿgS(HK[U't HE$nE +3lF#v{ep4c/}L=*ٓO1ndͿ)F`ZnY0G2f쇝$W.~~_Yg7nCvBo̦bNW=cY%LnRfw">ӿʜ{b}#6 g"our]g;v:pرH0JKwauuW.XV˰Q2m?IPӱs/ /i&2{x} Y`z?0 2d۳#4q%r69%»}ѼPi9pXv4Zu|;VI2FOxT;R 䑣˱'9l|7maz>Vq[牵%X\_6DcsRnz-ʈ'`ƹpB=!#dXΟە@f7tjIywMU/g3VfZl>B]/-{uVGF'qUAx˖>vD<nTki6bQ<ɬZmnz}ĒSDBǴpõR4.GpFINmV)Gx)p|+sǨeYZ-sD>͝.; ~TQfs@[TY"9Fne}ozuH/fc-So$HR#=]"uL8}y{0W (R7NMc b́YG"]B 0H-~oi^tg<`Y#=*-bxIDŊ&효#iGu$.C #J0úA޲Ŝ-w dy­I]q hΉ cL%߭gQh'BD9a!g?2+HIm_AKX AxF|ϮԦmxI@FG0:e^a E"  5Yx[V1{L7uXw4ܨ(E-/>6G(#|xT 49TʞKyZhr-ܲ3s3#3/k$>m)l푎75[!WTw 74 3-st/l6M $YnR90LC(qA]FĆLUXAIonuho24[;fzUSms4[F|JTVݵ2FOx~8gO㼻*tepNKXϒ))$=pTr$W8\a~*=慎(2^Am:r7}\QGyM,i3*75+7v7Tt3&p~8To㊪EwU r>MQQW l>Mœ4<2*pzC&W>~u5MkydXF[=|<(\ aXّǸܷRnqז B6L yJv>^hyON;8=<:0ڣ7QץHbHIbҮAe ]1P}N(4R/3Vf: ?x뚵{5oF~V%v@ILN2 *GxFI!S춼H} kO")F_=} ܢAU"5滈p@bI(Z07kBK(L\6˜R't\> k6@(Lj`9$\+F6*Ï4VVMJw# oFi#u jS< c9e zJ.ƞGx75zB(j3]=:n,gcc}AҖzD2bnf+Fq ZF4R0mD#rDO4*n1HnU+N&F(ӧ]F9adyY|GլEF96vV  G]Y$%1,M9=ʫ3Lݴ6ՉCG}tZAFNrz( >y@f3xֈI$hŒZyFUT*O\[:.y]V5Vp221岸2+_/΢Z$C\QFi#3)‚:u2[Hy6Q>FƄFkg9rXw>cMŃsaAu ;l` {|W$SeQp! ~p^d;;TGAZ 4jt8 VjjW֐6dǭz'' roJ8fj=nBs?'3G 5'[վqa$s\JBc9'©T,7=IJJ>V#x 0e=<5~Ƿ;('|`xLb)V[} !|@waʒUgM൳kx*ym㊲A4}c!rv̈́Iі[9 sSY^QWt{7>Tm֍˩[ۀ̹Ult)ԢRnTs|ީ* {c]1hqUT*[;mPf8>#Ϊ}hTV]Yn"͵1ltJd4ln Zғ=gf<ޤ%}q'3W,)# #94KF634mḪv y$b\x?T-NXy3zPofnɡf dgR"e^dneEVF?"[1 :^О@'j 0E VV_3Q}R4<1nkBn# '%RA;%I L 9!ߊ֨#(Т9>Kc[F"IPbN:қocO+6Tgo&Vפ2}KJQ-q~1giJ`y9A'񨐶qReIfVnQS wȧjfj3ޣ<c~ ?.ىU>x"I?J’bCit'ծ_QT(PY\ޫqꗗڌw]dM&`N0') *+;mM^q̊؝3𴯬#wH#o*=I-v,cJyPkcm0H< Sh5޴'vߗz^h I#[ȡSΠoXߋb9s?hIk.Au-Md0F795mqŸV~4+؉kH]3)ᝈ-ǜeH*=O >mѤֹDȀv#ƋWd:£vH3QUˎ7 )mW^E-3r$^tLj4/',SGCu{]ӭuk{Sq(xTJ G4rOxKs+@A#}d}xIN5e+m{ R&^L}^LrzU;L]N+ N Xpa g ]gԕ"ʰD#, $`^i1tⱚkY't+*7qZG$Jc8cSok:H*FyI`=hMokqF%(a^yMt.ft{Bt.Gx!U]:GONEm̱'@[u-ČN$9e}yR2,֖$eHd*'-Uylܚr䀣iGVhmM95ogZiYG ҒccbG YZQrʼn//5ijU/u)P4QYP?gJ^izBڡ u4ZܬKsTi+yUP2!scoދuE@a5+g«7+ʞ ~v45VB{yA?gƪ6mp|rnG0AAΡ{rn4.pO0]07| ֑>tֱgaؓ鎸ϧWfVY"@'~=k*.u04`ǴP7(81)={U^rz1 C7 ƥķ {8* Ө?4J[XľA!vIy2(qΛ8åyR%e+w}|Lbq)A-BY'h7;o56lr K bs uΆ b}K!SΘaNtY%FovAXK9Z2F_ Piֶ+6;eʩPIhˎĬr|?^B re 6>}+ho}uU۴R\67&D5T 耏[z&~]4R= lR'+h>wyyrWS4h+swaw42{希vpGt%0|@\ϝz!Dq¯˲(@9FyhxoħlW*t9x,ܤ'g(;x}M^'dy$cų2aW *I7ΣEiqslZ+u a{kZWaG'@5X'7G2*9ڬGr5etʢ0,C4~)gn葔34qy$+akK4 Zɪh,0 *V/Innu IrgI/x*P[xH6\NJ؃`UTc<؞j.[< qHnFRIq3U;.˹scIOLtweao-$4;ly;4 {)= n^g1DJߘ.IYeecj=x8Y.!Ӿ,wg>%v&.MV'Ǚ9\㡧,*iK* ŒuPۘ` G#?ΠEt36X:h̻℥ͤц=xFĜdxTҊw,s㌊Y^[0+,y|J-jw0;TEuv5˖泥MTDs;T(9*$]@Y iOāxTx8Pn(]+ьW/}?H#8G_;#^9P.X5G|_!Ҷs\ِ33sʻ 'E[Rxqhݭbg&A^g8.ޭh,ಒAsv*9@';u;Wn)..I(nXaiF0pw#9Psz([}yA5VLB2)>E ɋrV[ t]M,7F*m~u.̗7'y#rX3]eUe`ltnnu sv*a m{(9p̍Mu.A|?3d ڎ`-塎(܀ƚAeO,#y9;1|+6I?\CdOy}R t@I%񪝛Oi2U{36nD$6AT8RawYMls\a'/Y>.6ј:X g?ogFyeYx\Ԯ!s4* xhZMKL(yVo6銠pΧ=i9@N3󫟴BB!\ *v]Αn&[pҒs%w6:[ ;E c"i$7cy ;'v'j#vs! v:+wu5cPݛ_xʪj"I] 06X om֎5A7X/3MU| }7$3k.Y#Y[U /ǟ17vşhrƷ 't ק64J+vQy-;hoJ3A ;.[>_^#0ϥNCGY[ Ffi.#8dk{f|XHGƩby|H=M9 I#)# 6Q]éqqapd+#*^ӸBRi-4i"듑ZV*Rxc|Pߍ)-"2AeNJFqq-#N yZ{;U<:uN(n'.0*A8mNJuiV{nBžhjX !1UtdDj|X,՛j~ɂdnAI'ǯgwWNZy䑎Ğ⁲z#@9C] Uk)5UkpN̖whw:ABOc?_f Jm?s YvS ~i^ή4.I.=A)ėL rp64R8íFeپߝ Jnk\ ^EO0)㶌lPE'xb|H VHgd^WA +} f/hIu]4%܊UZY4m^E6]q)ҰedeozKtYކZqIu ZxK~);VW徜qD Hۛje-cnzbr6B%wltkIcuV='sBtNlrÑCUӭnm>6 5Bs9^1{e(fa`8-nL|iOCmg ;Mq1'5-3/˥a<7I *?hʬ$x򩛍VLX