BEIJING (Reuters) – China’s government land sales revenue for January to August shrank 28.5% from the same period last year to 3.37 trillion yuan ($480 billion), narrowing from the 31.7% slump recorded as of January-July, data from the Ministry of Finance showed on Friday.
Land sales in August fell 4.9% year-on-year after a 33.2% drop in July, according to Reuters calculations based on data from the finance ministry.
($1 = 7.0175 Chinese yuan renminbi)
(Reporting by Liangping Gao and Ryan Woo; Editing by Hugh Lawson)
