China's real estate sector faces 'severe crisis' as country's Third Plenum yields no result

Beijing [China], July 19 (ANI): The Chinese Communist Party's (CCP) third plenum was concluded this week without producing any relief for the country's ailing real estate sector, as the troubles include dwindling contracted sales, Nikkei Asia reported.

These contracted sales are a source of revenue that developers need to raise funds for their projects and, more crucially, pay their mounting debts in the current market.

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