Major Chinese developers' property sales remained sluggish in first quarter amid Covid-19 outbreaks, weakening expectations

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China's housing market has been in a downtrend since the second half of 2021 and, despite a series of government measures to boost home demand, major property developers' sales tumbled further in the first quarter of this year.

According to data from the China Real Estate Information Corporation, the top 50 developers' total sales declined 47.1% on year in the first quarter to 1.63 trillion yuan, lower than the levels seen in . . .

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