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Land sales revenue in China's 300 major cities declined 9% to 5.6 trillion yuan in 2021, ending a six-year gaining streak, according to data from China Index Academy, an independent real estate research firm.
Separately, a note from TF Securities showed that only six provincial regions including Beijing, Shanghai, Tianjin, Guizhou, Jiangsu and Zhejiang saw land sales revenue increase last year, while all other regions recorded annual declines.
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