BEIJING - Property investment in China fell 10.1% in the first five months of 2024 from a year earlier, after dropping 9.8% in January-April, even as policymakers doubled down on efforts to support the ailing sector and shore up consumer confidence.
New construction starts measured by floor area fell 24.2% on year, after a 24.6% drop in the first four months. China announced"historic" steps last month to stabilise its crisis-hit property sector, aiming to clear massive home inventories and boost housing demand.
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