China Housing Shows Little Improvement Despite Support Measures
- Property investment declined 9.1% y/y in January-September
- Funding for property developers continued to contract as well
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China’s property slump remained a drag on the economy in September despite several steps taken by authorities in recent months to bolster the sector.
Property investment, a key driver of economic activity, contracted 9.1% in January-September from a year ago, a bigger drop than the 8.8% decline in the first eight months of the year, official data showed Wednesday.