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China construction

China's property sector in decline

This page hosts our key research on the near and longer-term forces driving the Chinese property sector. It explains how the government’s abandonment of zero-COVID restrictions is fuelling a notable cyclical recovery in housing market activity that will help drive a 5.5% increase in GDP growth this year. But it also shows how the long-term picture is little changed, and how China’s property sector faces a formidable set of structural head winds which are gradually reducing demand for housing.