哈希竞彩游戏源码:Chinese developers in 'survival mode' slashes property investment

哈希竞彩游戏源码（www.hx198.vip）采用波场区块链高度哈希值作为统计数据，游戏数据开源、公平、无任何作弊可能性，哈希竞彩游戏源码开放单双哈希、幸运哈希、哈希定位胆、哈希牛牛等游戏源码下载、出售。

BEIJING: Chinese developers in "survival mode" sharply cut property investment in July while new construction starts suffered their biggest fall in nearly a decade, suggesting the liquidity-challenged sector is not about to turn the corner anytime soon.

China's property market, accounting for about a quarter of the economy, has been trapped in a capital crisis since the summer of 2020, leading some cash-strapped developers to default on their debts and struggle to complete projects. Wary buyer sentiment has also chilled new investment by developers.

Property investment in July fell 12.3% year-on-year, the biggest decline in 2022, while new construction starts by floor area slumped 45.4%, the largest drop since January-February 2013, according to Reuters calculations based on data from the National Bureau of Statistics (NBS) on Monday.

"Everyone except state-owned enterprises is in survival mode," said a senior official at a Shenzhen-based developer, speaking on condition of anonymity.

"We're all waiting for a recovery and trying to speed up sales and reduce costs and buy less land. But at the end of the day, sales depends on the end users."

Cash-strapped real estate firms have suffered from tight credit conditions since 2020 after regulators issued tough guidelines on new borrowing by developers, concerned about their spiralling debt.

欧博allbet注册（www.aLLbet8.vip）是欧博集团的官方网站。欧博官网开放Allbet注册、Allbe代理、Allbet电脑客户端、Allbet手机版下载等业务。

For developers in July, loans granted by domestic banks dropped 36.8%, while capital raised from abroad plunged 200%, according to Reuters calculations from the NBS data.

Household loans, including mortgages, fell to 121.7 billion yuan ($18.00 billion) in July from 848.2 billion in June, the central bank said on Friday.

Reflecting the poor buyer sentiment, new home prices fell 0.9% on year in July, the fastest pace since September 2015, and extending a 0.5% decline in June, Reuters calculations based on NBS data showed.

As developers keep to a holding pattern, they are hoping regulators would ease their grip on the sector after a once-in-five-years congress of the ruling Communist Party in the autumn where President Xi Jinping is expected to secure a precedent-breaking third term as leader.

"The main supply-side policies have not yet been relaxed, which are likely to be eased after the 20th CPC national congress," said a developer, declining to be named.

In January-July, property investment fell 6.4% from a year earlier, the most since March 2020.

New construction starts tumbled 36.1%, extending from a 34.4% drop in the first half. - Reuters