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Deadly Collision Claims 67 Lives in U.S. Air Disaster | At Least 30 Dead and Many Injured in Stampede at Maha Kumbh Mela in India | Chinese President Xi Jinping Affirms Cambodia's Role as a Key Partner in China’s Diplomatic Strategy | Xi Jinping Concludes State Visit to Cambodia, Strengthening Bilateral Ties | Chinese President Xi Jinping Concludes Successful State Visit to Cambodia | Chinese Ambassador: US-China Trade Tensions Harm Developing Nations; President Xi Urges Investment in Cambodia and Expanded Market Access | Japanese Maritime Self-Defense Force Ships Bungo and Etazima Dock at Ream Sea Base for Four-Day Visit | Prime Minister Hun Manet Expresses Displeasure Over Criticism of Chinese Investments During Kampot International Tourist Port Inauguration | Asian Development Bank Collaborates with Cambodia on New Development Projects Worth Over $1 Billion |

China's 2022 Property Investment Falls For First Time Since 1999

  • Posted Jan 17, 2023 10:24 by Anthony Ellis
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BEIJING: Jan 17- China's property investment fell 10.0% year-on-year in 2022, the first decline since records began in 1999, compared with a decline of 9.8% in the first 11 months of the year, official data showed on Tuesday.

Property sales by floor area dropped 24.3% in 2022 from the same period a year earlier, the most since the data became available in 1992，compared with a fall of 23.3% during January-November, according to data from the National Bureau of Statistics (NBS).

New construction starts measured by floor area declined 39.4% year-on-year in 2022, versus a 38.9% slump in the first 11 months of the year.

Funds raised by China's property developers slumped 25.9% on year, after tumbling 25.7% in January-November.

Chinese authorities have rolled out a flurry of support policies targeting homebuyers and property developers in recent weeks, to relieve a long-running liquidity squeeze that has hit developers and delayed the completion of many housing projects.

(Source Reuters)

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