The real estate market of China, a key driver for over 40 industries in the country, continued to weaken in September. State stimulus packages cannot increase optimism among the market players. Beijing’s intent to make the economy less dependent on investments and encourage domestic consumption contributes to the real estate bubble gradually deflating in China. Revenues from commercial real estate sales dropped by 8.9% y-o-y, the area of housing sold by 8.6% y-o-y in January-September, the National Statistics Bureau of China informs.
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