China's Jan-Feb property investment falls 5.7% y/y
BEIJING, March 15 (Reuters) - China's property investment fell 5.7% from a year earlier in the first two months of 2023, compared with a 12.2% slump in December, official data showed on Wednesday.
Property sales by floor area declined 3.6% year-on-year in the first two months of the year, versus the 31.5% decline seen in December, according to data from the National Bureau of Statistics (NBS).
New construction starts measured by floor area fell 9.4% in January-February from a year earlier, after a 44.3% decline in December.
Funds raised by China's property developers slumped 15.2% year-on-year in the January-February period, compared with a 28.7% fall in December. (Reporting by Liangping Gao, Ella Cao and Ryan Woo; Editing by Edmund Klamann)
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