China's property investment falls 12% y/y in January-July
Tweet
Share
E-mail
FILE PHOTO: A man walks on a pedestrian bridge near residential buildings in Beijing, China October 17, 2024. REUTERS/Florence Lo/File Photo
BEIJING (Reuters) -Property investment in China declined 12.0% in the first seven months of the year from the same period last year, after dropping 11.2% in the first half, official data showed on Friday.
Property sales by floor area fell 4.0% year-on-year, compared with a 3.5% drop in the first six months of the year.
New construction starts measured by floor area slumped 19.4%, after contracting 20% in the January-to-June period.
Funds raised by China's property developers in the first seven months of the year were down 7.5%, versus a 6.2% drop in the first half.
(Reporting by Yukun Zhang, Liangping Gao and Kevin Yao; Editing by Sam Holmes)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- China launches year-long auto quality drive, mandates defect recalls
- Wall St banks turn on each other as capital fight nears endgame
- Dollar Tree beats quarterly revenue estimates on steady demand
Create E-mail Alert Related Categories
ReutersSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
