China's government land sales revenue down 6.5 percent y/y in H1

25-07-2025 15:48 HKT

A pedestrian walks near residential buildings under construction in Beijing, China, on Saturday, March 4, 2023. China property buyers are back on the hunt, but not quite ready to invest, underscoring the tenuous state of the country real estate market.hotographer: Qilai Shen/Bloomberg

China's government posted a narrower decline in land sales revenue in the first half of 2025, data from the finance ministry showed on Friday.

Revenue from government land sales fell 6.5 percent year-on-year, compared with an 11.9 percent drop in the first five months of the year.

Land sales, a major fiscal pillar for local governments, have dropped significantly since 2022 as cash-strapped developers reduced land purchases amid sluggish economic growth.

Reuters

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