Chinese property developers' cash flows have plunged by more than 20%
Analysts generally expect state-owned enterprises will perform better than non-state-owned developers in the latest real estate slump. Pictured here in Guangxi, China, on Aug. 15, 2022, is a real estate complex developed by state-owned conglomerate Poly Group. Future Publishing | Future Publishing | Getty Images BEIJING — Chinese property developers' cash flows — a sign of the companies' ability to stay afloat — shrank this year after steady growth over the last decade, according to Oxford Economics. Developer cash flows through July are down 24% year-on-year on an annualized basis, according to analysis from the firm's lead economist, Tommy Wu. That's a sharp slowdown from growth for nearly every year since at least 2009, the data showed. Total funding as of July was 15.22 trillion yuan ($2.27 trillion) on an annualized basis, versus 20.11 trillion yuan in 2021. The drop comes as credit demand in China missed expectations in July, and property developers' strug...