Local governments are selling off idle properties and mining rights as the country's faltering economy puts pressure on fiscal revenue, Caixin Global reported

August sales for China's top 100 property developers fell more than 30% from the same time last year, slipping a further 0.8% from July, Wall Street Journal said

The building industry faces multiple threats such as "sluggish demand, weakening expectations and falling prices," Country Garden said.

Home prices in the city eased 1.6% last month from June and have now dropped 4.5% so far this year.

Senior executives at some Chinese state banks and asset managers are wary of dealing with debt-laden developers and incurring substantial losses of their books, sources say.

The gross payout was the most since data began in 2013 and a 257% increase from a year earlier, according Ministry of Human Resources and Social Security data.

China’s homebuyers are refusing to pay mortgage loans and their “stop mortgage repayment” movement has spread to several Chinese provinces

China's economy narrowly avoided a contraction in the second quarter as widespread lockdowns and a property crisis took a heavy toll on consumer and business confidence.

China's banking regulator is reviewing local and foreign banks' exposure to developers to try to measure risks to the financial system from the ongoing property sector turmoil

The strong response to the first batch of rental property REITs is positive news for China, opening a new financing channel for the debt-laden real estate sector

China’s yuan is facing the most sustained depreciation pressure since 2015, when a shock devaluation triggered a global stock market rout

Shares of Longfor, CIFI and Country Garden all jumped by more than 15% in morning trading on Tuesday. The Hang Seng Mainland Properties Index climbed 9.2%.