China’s new construction starts tumbled over 30% on year in October amid cash crunch in real estate sector

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Chinese property developers have slashed investment amid a sector-wide cash crunch and new construction starts, a leading indicator of real estate activities, slumped by more than 30% in October from a year earlier.

According to data released by the National Bureau of Statistics (NBS) earlier this week, new construction starts declined by 7.7% in the period of January - October from a year earlier to 1.667 billion square meters.

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