Chinese property developers’ total funding tumbled 25.3% on year in first half
STOCKS
Chinese property developers’ total funding tumbled 25.3% on year in first half
STOCKS

Chinese property developers’ total funding tumbled 25.3% on year in first half

 

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Chinese property developers’ total funding reached 7.68 trillion yuan in the first half of the year, sliding 25.3% from the same period last year, according to data released by the National Bureau of Statistics.

That’s slightly narrower than the 25.8% drop in the first five months of the year.

In breakdown, funding from domestic bank loans decreased by 27.2% on year to 980.6 billion yuan; foreign capitals rose by 30.7% to 5.5 billion yuan; self-raised funds declined by 9.7% to 2.7 trillion yuan; deposits and pre-sales proceeds slumped by 37.9% to 2.46 trillion yuan; and home mortgage loans plummeted by 25.7% to 1.22 billion yuan, showed the data.