Major Chinese property developers' cash dropped for first time in five years, interest-bearing debt grew at slower pace

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Major Chinese property developers' cash holdings declined in the first half of the year for the first time in five years and their total interest-bearing debts grew at a slower pace during the period, according to data from the China Real Estate Information Corporation, a Chinese property industry consultancy.

The 80 major property developers in the country had 3.2 trillion yuan of cash on hand at the end of the first half of the year, falling by 0.2 per cent from the start of the year, marking the first drop in nearly five years . . .

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