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Property market in China slumps on developers' debt crisis

Property market in China slumps on developers' debt crisis

Beijing, China. Photo by zhang kaiyv on Unsplash

China‘s property market, a key pillar of the world’s second-largest economy, has weakened sharply in the past year as a result of a government clampdown on excessive borrowings by developers, and a COVID-19-induced economic slowdown.

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