In the January-October period this year, total real estate investments in China amounted to RMB 11.3945 trillion ($1.6 trillion), down 8.8 percent year on year, as announced by China's National Bureau of Statistics (NBS).
In the given period, new commercial real estate sold in China covered a total area of 1.11179 billion m2, down 22.3 percent year on year.
The total area covered by construction activity in China in the given period declined by 5.7 percent year on year. Nevertheless, the new area covered by construction activity decreased by 37.8 percent year on year in the given period.
The real estate development prosperity index stood at 94.7, down from 94.86 recorded in September and down from 100.57 in the same month last year, reflecting the slack performance of the real estate market.
However, China has issued policies to boost the real estate industry, for instance, increasing financial support, treating private enterprises and state-owned enterprises equally, aiming to boost the industry, which will exert a positive impact on the market.