China property, construction sectors contract for first time since Covid hit


China’s National Bureau of Statistics says the country’s real estate and construction sectors shrank in the third quarter for the first time since the early stage of the Covid-19 pandemic. – EPA pic, October 19, 2021.

CHINA’S real estate and construction sectors shrank in the third quarter for the first time since the early stage of the Covid-19 pandemic, official data showed today, as they face increasing pressure from a sprawling crackdown on the country’s ailing property industry.

The figures come a day after figures showed the world’s second-biggest economy grew slower than forecast in the same period owing to the regulatory tightening as well as an energy crunch.


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