China property firm apologises for vacancy rate report after public debate

BEIJING/HONG KONG: A Chinese property think tank owned by KE Holdings apologised on Thursday for sparking a "heated public discussion" with its report on rising housing vacancy rates in China, and said its assessment may not be sufficiently accurate.

The apology comes at a time when policymakers are urging banks to extend loans to property firms and local governments are relaxing downpayment rules for home purchases as sales and confidence sag amid weak macroeconomic conditions.