China’s real estate investments increase more rapidly in Jan-Sept

Tuesday, 20 October 2020 13:47:22 (GMT+3)   |   Shanghai
       

In the January-September period this year, total real estate investments in China amounted to RMB 10.3484 trillion ($1.5 trillion), up 5.6 percent year on year, 1.0 percentage point bigger than the increase rate recorded in the first eight months of the year, reflecting a further improvement in the real estate industry, as announced by China's National Bureau of Statistics (NBS).

Real estate sales have continued to increase in September, though at a slower pace than in August. The government has been working to prevent a bubble in the real estate sector, restricting excessively rapid growth in big cities. In the January-September period, new commercial real estate sold in China covered a total area of 1170.73 million m2, down 1.8 percent on year-on-year basis, 1.5 percentage points slower than the decline recorded in the first eight months.

The total area covered by construction activity in China in the January-September period increased by 3.1 percent, 0.2 percentage points slower than the 3.3 percent rise recorded in the first eight months.

The decline in the total new area covered by construction activity slowed down to 3.4 percent in the first nine months, from 3.6 percent in the first eight months of the year.  


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