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China Shrinking Property Investment to Drag Down GDP in 2022: Yicai

CHINA PRESS
MNI (Singapore)

China’s property investments may shrink by as much as 10% in 2022, dragging down overall growth, Yicai.com reported citing a research organization it didn’t identify. Including development, construction materials and all other segments, the property account for 20% of the country’s GDP, Yicai said. Should the total property investment decline by 8% this year, it can shave 2.7 percentage points off overall growth, given the effect of declining wealth and fiscal revenues, etc., Yicai said. The situation will worsen from last year, when the property sector still contributed to 0.4 pp growth in full-year GDP despite a rapid slowdown in H2, the news site said citing official data.

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