Some major Chinese property developers post plunging profits in 2021 amid slowing housing market

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Many major Chinese property developers reported plunging profits for 2021 as the country's housing market slowed down significantly.

China Vanke, one of the country’s top real estate companies, said its core net profit halved to 22.5 billion yuan ($3.54 billion) while sales fell 10% to 628.78 billion yuan, according to its annual financial report.

Guangzhou-based R . . .

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