China’s property and construction sectors contracted in the third quarter for the first time since the start of the pandemic, hurt by a slump in real estate as the Evergrande debt crisis and the effects of Beijing’s tougher property market regulation spread to other parts of the economy.Output in the real estate and construction industries shrank 1.6 per cent and 1.8 per cent respectively in the third quarter of 2021, according to a supplemental report on China’s gross domestic product released…
Source : South China Morning Post
Read more…China’s property and construction sectors contract in third quarter as Evergrande crisis and tougher regulation hit home
