In the January-May period this year, total real estate investments in China amounted to RMB 5.2134 trillion ($0.77 trillion), down 4.0 percent year on year, as announced by China's National Bureau of Statistics (NBS).
In the given year, new commercial real estate sold in China covered a total area of 507.38 million m2, down 23.6 percent year on year.
The total area covered by construction activity in China in the given period declined by 1.0 percent year on year. Nevertheless, the new area covered by construction activity decreased by 30.6 percent year on year in the given period.
The Covid-19 pandemic and the related restriction measures exerted a negative impact on the real estate market in the given period, while many regions issued stimulus policies to stimulate industrial development.