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’ struggles drag on.

As a leading sourcing company from China, we are not simply connect the client to a manufacture , but we would like to provide professional project development services to our valuable client. If you need purchasing agency services from all over the world, and also imports resources from overseas into China, please contact us now.