China launched multiple initiatives in 2022 to kick-start idling property developments and lift their developers from a funding drought, but at the end of the year only 21% of the country's stalled projects had fully resumed construction, according to a recent survey.
The figure is a sign of the challenges that began with an industrywide credit crunch two years ago and which continue to hinder debt-laden developers and local governments in 2023 as they attempt to restore confidence in the real estate market.
