11 July 2025 | 10:11PM HKT China Economic Activity and Policy Tracker: July 11 (Song) Exhibit 1: 30-city daily property transaction volume in the primary market was below last year's level Source: Wind, Goldman Sachs Global Investment Research Andrew Tilton +852-2978-1802 | andrew.tilton@gs.com Goldman Sachs (Asia) L.L.C. Hui Shan +852-2978-6634 | hui.shan@gs.com Goldman Sachs (Asia) L.L.C. Lisheng Wang +852-3966-4004 | lisheng.wang@gs.com Goldman Sachs (Asia) L.L.C. Xinquan Chen In this note, we update fou ...