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Jul 19, 2024 - 15:40
By asia.nikkei.com

China-listed developers with 100bn yuan in 1st-half sales dwindle to 5

HONG KONG -- The Chinese Communist Party's long-awaited third plenum wrapped up this week without producing clear and immediate relief for the country's ailing property sector -- troubles illustrated by the latest data on developers' dwindling contracted sales.

Contracted sales are a core source of revenue that mainland developers need to fund their projects and, more crucially under the circumstances, service their mounting debts.