HONG KONG -- Chinese data released on Tuesday shows a steep decline in real estate investment in the first seven months of the year, as developers' sales dropped and cash availability decreased.
China debt crunch
China real estate slump deepens with 8.5% investment drop
January-July figure reflects 'difficulties' among developers as cash dries up
A real estate development in Kunming, in China's Yunnan province: Property investment in the country fell 8.5% in the first seven months of 2023 versus the previous year. © Reuters
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