China H1 revenue from govt land sales down 31.4% y/y
FILE PHOTO: A cleaning worker is seen through a glass window at a shopping mall in the Central Business District (CBD), amid the coronavirus disease (COVID-19) outbreak in Beijing, China June 2, 2022. REUTERS/Tingshu Wang
BEIJING : China's government land sales revenue shrank 31.4 per cent year-on-year in January-June, widening from a 28.7 per cent slump in the first five months of the year, an official from China's Ministry of Finance said during a press conference on Thursday.
The sharp contraction comes amid a property market downturn while domestic developers have grown cautious about land purchases.
Source: Reuters
