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China's property market remains in a downtrend NHK

China has released economic data showing the crisis-hit property market remains in a slump.

The National Bureau of Statistics figures show real estate investment fell a cumulative 9.4 percent year on year from January through November. That's worse than the 9.3 percent drop reported in the period through October.

The latest figures show new home prices fell in 59 out of 70 major cities. That's an increase of three cities from October.

The administration of Chinese President Xi Jinping has indicated it will tackle the threat to the economy posed by the debt-ridden property market. That includes related local government debt.

Elsewhere, industrial production and retail sales improved in China's economy.

Industrial production rose 6.6 percent in November from a year earlier.

Retail sales climbed in the same month, posting a 10.1 percent year-on-year gain.
Summary
China's property market remains in crisis, with real estate investment declining 9.4% year-on-year from January to November, worsening from the previous period. New home prices fell in 59 out of 70 major cities, an increase from October. The Chinese government plans to address the debt-ridden
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ID: 0b3c72af-fa56-4a74-ae39-a88353cdd5c1

Category ID: nhk

URL: https://www3.nhk.or.jp/nhkworld/en/news/20231215_18/

Date: Dec. 15, 2023

Created: 2023/12/18 06:30

Updated: 2025/12/08 20:05

Last Read: 2023/12/18 15:24