China Confronts Looming Property Crisis Due to Expired Leases

China is addressing a long-standing issue in its real estate sector: the impending threat posed by expiring leases that have disrupted transactions and put investors at risk of significant losses. With over $190 billion worth of non-residential property now having leases of 20 years or less, the uncertainty surrounding lease extensions has been a major challenge for developers and investors alike. This situation has led to a prolonged downturn in the real estate market that has persisted for more than five years. Companies like Parkview Group and New World Development have encountered difficulties in selling assets due to dwindling lease…