NBS: China's Jan-Jul FAI falls 6.7%, property investment slumps 19.2% YoY

China’s fixed asset investment (FAI) dropped by 6.7% on year to total Yuan 26.03 trillion ($3.86 trillion) in the first seven months of this year, making for a sharper fall from the January-June decline of 5.7%, according to the latest release from the National Bureau of Statistics (NBS) on August 17.

Within the total, the cumulative funding for the country's property sector over the first seven months registered Yuan 4.30 trillion, plunging by a steeper 19.2% compared to the year-ago level. The declines in China's overall FAI and specifically that for the property sector have both been steadily worsening during the past seven months, Mysteel Global noted. Over January-July, the three