According to China’s National Bureau of Statistics, in the January-August period of this year aggregate investment in real estate development in China totaled RMB 4.3688 trillion ($689 billion), up 15.6 percent compared to the same period last year. Meanwhile, in the given period, residential building investment increased by 10.6 percent year on year to RMB 2.999 trillion ($473 billion).
Specifically, in the January-August period, investment in real estate development in the eastern, central and western regions of China amounted to RMB 2.5116 trillion ($396 billion), RMB 931.3 billion ($147 billion) and RMB 925.9 billion ($146 billion), up 14.9 percent, 16.9 percent and 16.3 percent respectively, all year on year.
At the end of August, the floor space of buildings under construction in China amounted to 5,116,570,000 square meters, up 15.6 percent on year-on-year basis.