BEIJING :China's property investment extended its fall for the 17th consecutive month in July, and home sales slumped, official data showed on Tuesday, as a deepening debt crisis weighs on the sector.
The grim figures come as the country's largest private real estate developer Country Garden is seeking to delay payment on a private onshore bond for the first time, piling pressure on Beijing to step in. China's top leaders at a politburo meeting in July pledged to adjust property policies, fuelling speculation stimulus might be on the way.
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Source: ChannelNewsAsia - 🏆 6. / 66 Read more »