China’s Jan-July property investment down 8.5% y/y

Apartment blocks are pictured in Wuqing District of Tianjin, China October 10, 2016. REUTERS/Jason Lee/File photo

BEIJING – Property investment in China fell 8.5 percent in the first seven months from the same period a year earlier, after sliding 7.9 percent in January-June, according to data from the National Bureau of Statistics on Tuesday. Property sales by floor area in China declined 6.5 percent in January-July from a year earlier, compared with a 5.3- percent fall in the first six months, official data showed on Tuesday, amid still-weak demand and a deepening debt crisis.

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