China’s GDP growth decreased 4.9% in the third quarter of 2021

The power crisis, increasing commodity prices and tightening constraints on the real estate sector slowed down China's GDP.
In the third quarter of 2021 compared to 2020, the growth rate of the construction industry decreased by 1.8% and the growth rate of the real estate industry decreased by 1.6%.
In the first three quarters, the land acquisition area of real estate development companies fell by 8.5% to 137.3 million cubic square and housing starts fell by 3.3%. lowest since the past six years.

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