The new goal is to improve the quality and efficiency of existing stock, rather than chase headline growth through new construction
Per official stats, investment in real estate development plummeted by 11.2 per cent in the first half of 2025, a steeper decline than the 10.6 per cent drop for the entirety of 2024. This casts a shadow on Premier Li Qiang’s optimistic pledge at a July State Council meeting to consolidate and expand the positive momentum of economic recovery.
The worsening state of real estate once again raises questions about whether China’s leadership will – or should – intervene.
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