In the January-May period of the current year, total real estate investments in China amounted to RMB 5.4318 trillion ($0.845 trillion), up 18.3 percent year on year, 3.3 percentage points slower than the rise recorded in the first four months this year, indicating certain slowdown effects in the real estate industry amid measures to curb rapid price rises, while up 17.9 percent compared to the same period of 2019, as announced by China's National Bureau of Statistics (NBS).
In the first five months, new commercial real estate sold in China covered a total area of 663.83 million m2, up 36.3 percent year on year, while up 19.6 percent compared to the same period of 2019.
The total area covered by construction activity in China in the given period increased by 10.1 percent, down 0.4 percentage points compared to the total area recorded in the first four months. Nevertheless, the new area covered by construction activity increased by 6.9 percent year on year in the given period.
