China's property investment falls 11.2% y/y in January-June
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Workers walk past a construction site of residential buildings by property developer Country Garden in Kunming, Yunnan province, China September 17, 2019. REUTERS/Wong Campion/File Photo
BEIJING (Reuters) -Property investment in China declined 11.2% in the first half of the year from the same period last year, after slumping 10.7% in January-May, official data showed on Tuesday.
Property sales by floor area fell 3.5% year-on-year, compared with a 2.9% drop in the first five months of the year.
New construction starts measured by floor area dropped 20%, after contracting 22.8% in the January-to-May period.
Funds raised by China's property developers in the first half of the year were down 6.2%, versus a 5.3% drop in the first five months.
(Reporting by Liangping Gao, Yukun Zhang and Ryan Woo; Editing by Christian Schmollinger)
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