For the sixth month in a row, China’s new construction starts declined in September. This is the longest continuous monthly declines since March–August in 2015.
Tighter borrowing regulations have created a cash liquidity problem for developers, and as a result many projects have been paused. Tighter restrictions on speculative purchases have also contributed to the slowdown in housing demand.
According to Reuters calculations based on January-September data released by the National Bureau of Statistics on Monday (10-18-21), new construction starts in September fell -13.54% from a year earlier — the third month of double-digit declines.
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China's plunging construction starts reminiscent of 2015 downturn