热门标签

欧博开户:Chinese developers in 'survival mode' slashes property investment

时间:1周前   阅读:15   评论:2

欧博开户www.aLLbet8.vip)是欧博集团的官方网站。欧博官网开放Allbet注册、Allbe代理、Allbet电脑客户端、Allbet手机版下载等业务。

BEIJING: Chinese developers in "survival mode" sharply cut property investment in July while new construction starts suffered their biggest fall in nearly a decade, suggesting the liquidity-challenged sector is not about to turn the corner anytime soon.

China's property market, accounting for about a quarter of the economy, has been trapped in a capital crisis since the summer of 2020, leading some cash-strapped developers to default on their debts and struggle to complete projects. Wary buyer sentiment has also chilled new investment by developers.

Property investment in July fell 12.3% year-on-year, the biggest decline in 2022, while new construction starts by floor area slumped 45.4%, the largest drop since January-February 2013, according to Reuters calculations based on data from the National Bureau of Statistics (NBS) on Monday.

"Everyone except state-owned enterprises is in survival mode," said a senior official at a Shenzhen-based developer, speaking on condition of anonymity.

"We're all waiting for a recovery and trying to speed up sales and reduce costs and buy less land. But at the end of the day, sales depends on the end users."

Cash-strapped real estate firms have suffered from tight credit conditions since 2020 after regulators issued tough guidelines on new borrowing by developers, concerned about their spiralling debt.

,

新2手机网址www.zq38.vip)实时更新发布最新最快的新2手机网址、新2手机网址线路、新2手机网址登录网址、新2手机网址管理端、新2手机网址手机版登录网址、新2手机皇冠登录网址。

,

For developers in July, loans granted by domestic banks dropped 36.8%, while capital raised from abroad plunged 200%, according to Reuters calculations from the NBS data.

Household loans, including mortgages, fell to 121.7 billion yuan ($18.00 billion) in July from 848.2 billion in June, the central bank said on Friday.

Reflecting the poor buyer sentiment, new home prices fell 0.9% on year in July, the fastest pace since September 2015, and extending a 0.5% decline in June, Reuters calculations based on NBS data showed.

As developers keep to a holding pattern, they are hoping regulators would ease their grip on the sector after a once-in-five-years congress of the ruling Communist Party in the autumn where President Xi Jinping is expected to secure a precedent-breaking third term as leader.

"The main supply-side policies have not yet been relaxed, which are likely to be eased after the 20th CPC national congress," said a developer, declining to be named.

In January-July, property investment fell 6.4% from a year earlier, the most since March 2020.

New construction starts tumbled 36.1%, extending from a 34.4% drop in the first half. - Reuters


转载说明:本文转载自Sunbet。

上一篇:皇冠体育官网app(www.hg108.vip):Oil prices head for weekly drop on global economic slowdown worries

下一篇:皇冠体育开户:Regulator raises competition concerns on Qantas

网友评论

  • 2022-09-23 00:01:02

    “Compounded by the impact of the prolonged pandemic, it is timely that we intensify our efforts to support our vendors who all play an important role in the oil and gas ecosystem,” she said in a statement. — Bernama舍不得停