Reported 8 months ago
Youth Daily on June 17, 2024, reported that China's National Bureau of Statistics released data showing a decline in residential property sales area and sales amount from January to May compared to the same period last year. Various measures implemented by the Chinese government to rescue the real estate market, such as lowering down payments and interest rates, have not yielded significant results. Analysts attribute the continuous downturn in the overall property market to the lack of confidence among the public in real estate developers and the market, rendering the measures ineffective.
Source: YAHOO