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Property

Woes of Chinese property developers multiply

Many see monthly sales decline by more than half from 2021 level

Chinese homebuyers are increasingly wary that developers may not be able to complete construction on presold apartments.   © AP

HONG KONG -- Chinese developer Zhenro Properties Group had a lousy January.

Contracted sales for the Shanghai-based homebuilder tumbled just under 30% that month from the year before, on par with the drop recorded by many of its peers in recent months.

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