May 19, 2023 04:27 AM

ECONOMY

China Revises 2022 Economic Data Downward Including Real Estate

By Wang Jing and Denise Jia

00:00

00:00/00:00

Listen to this article 1x

China’s property sector accounts for about 20% of the country’s gross domestic product.

China’s property sector accounts for about 20% of the country’s gross domestic product.

China’s National Bureau of Statistics (NBS) revised downward some of its 2022 economic data, providing a more favorable comparison for real estate and other statistics reported for the first four months of this year.

NBS data released Tuesday showed that new homes sales by area declined 0.4% to 376.4 million square meters in the first four months compared with the same period last year, while sales value rose 8.8% year-on-year to 3.98 trillion yuan.

You've accessed an article available only to subscribers

Subscribe today for just $.99.

VIEW OPTIONS

Share this article

Open WeChat and scan the QR code

GALLERY

: Gallery: London Luxury in Macao

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-Sinica Business Brief: Hong Kong to Allow Retail Investors to Trade Crypto

00:00

00:00/00:00

MOST POPULAR

1: Cover Story: China’s Effort to Move Mountain of ‘Hidden Debt’ Faces Uphill Climb

2: China’s Post-Reopening Second Covid Wave Could Peak in Late June, Expert Says

3: In Depth: Chinese Fast Fashion Platforms Could Be Next U.S. Target

4: Five Things to Know About Chinese Trust Firms’ Scramble to Offload Risky Assets

5: Kunming Scrambles to Pay Off $170 Million of Financing Vehicle Debt

SPONSORED

OR