Caixin
May 17, 2022 05:55 AM
ECONOMY

China’s Developers Slash Investment for First Time Since 2020

A residential project under construction in Qingzhou, Shandong province, on May 15, 2022.
A residential project under construction in Qingzhou, Shandong province, on May 15, 2022.

China’s real estate industry continued a slump with investment in property development falling 2.7% in the first four months of the year, reflecting the impact of the worst Covid outbreak in two years and developers’ shaken confidence in the economic outlook.

Developers invested 3.92 trillion yuan ($577 billion) in new projects through April this year, according to the National Bureau of Statistics (NBS). That represented the first year-on-year decline since the Covid outbreak emerged in Wuhan two years ago. In the first four months of 2020, such investment fell 3.3%.

You've accessed an article available only to subscribers
VIEW OPTIONS
Share this article
Open WeChat and scan the QR code
NEWSLETTERS
Get our CX Daily, weekly Must-Read and China Green Bulletin newsletters delivered free to your inbox, bringing you China's top headlines.

We ‘ve added you to our subscriber list.

Manage subscription
PODCAST
Caixin Biz Roundup: China’s Covid Caseload Hits Six-Month High
00:00
00:00/00:00