Covid Zero Weighs on China’s Economy Bloomberg News The wave of stimulus aimed at reviving China’s housing market — billions in bank loans, interest rate cuts and support for developers — has done little to help Echo sell her home near Shanghai. The media worker has received only four nibbles from potential buyers in six months, and is considering a 10% cut to her asking price of 3.3 million yuan ($460,000). She thinks this stagnant housing market, the worst in China’s modern history, will drag on for years.