16-July-2024
Corporate News
 
China's Property Investment Drops 10.1% Y/y in January-June
15-Jul-2024

Property investment in China fell 10.1% in the first half of 2024 from a year earlier, matching a figure in January-May, suggesting the sector is still not out of the woods despite mounting policy support. Property sales by floor area in January-June fell 19.0% from a year earlier, shallower than a 20.3% slump in January-May, National Bureau of Statistics (NBS) data showed on Monday. New construction starts measured by floor area fell 23.7% on year, after a 24.2% drop in the first five months. Funds raised by China's property developers were down 22.6% from a year earlier after a 24.3% fall in January-May.

News Source:- https://money.usnews.com/investing/news/articles/2024-07-14/chinas-property-investment-drops-10-1-y-y-in-january-june