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China's 2022 property investment fell for first time since 1999

Funds raised by China's property developers slumped 25.9% on the year

New construction starts measured by floor area declined 39.4% year-on-year in 2022, versus a 38.9% slump in the first 11 months of the year.   © Reuters

BEIJING (Reuters) -- China's property investment fell 10% year-on-year in 2022, the first decline since records began in 1999, compared with a decline of 9.8% in the first 11 months of the year, according to official data released on Tuesday.

Property sales by floor area dropped 24.3% in 2022 from the same period a year earlier, the most since the data became available in 1992, compared with a fall of 23.3% during January-November, according to data from the National Bureau of Statistics (NBS).

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