Author: Ralph Jennings,Ji Siqi
Property Investment in China Plummets in First Five Months of 2024 Property investment in China witnessed a significant decline of 10.1% year-on-year in the first five months of 2024. Notably, the floor space of new homes sold dropped by 20.3%, and the total sales value of new homes fell by 27.9%. Despite measures to support the real estate market, economists believe they may fall short of addressing the larger housing issues in the country. Moreover, retail sales growth saw an uptick of 3.7% year-on-year in the last month, showing signs of recovery. During the May Day break, domestic spending surged,…
China’s consumer price index (CPI) in May grew by 0.3 per cent year on year, remaining below the government target, indicating low inflation. This contrasts with Western countries experiencing higher inflation rates and hints at potential deflation due to sluggish consumption post-pandemic. The producer price index (PPI) declined for the 20th consecutive month in May by 1.4 per cent year on year, further underscoring economic challenges. Food prices are expected to maintain deflationary trends, while some sectors like public services may witness price increases to offset costs and financial pressures. Despite a slight uptick in consumer and service prices during…