CHINA China's property investment up 18.3 pct in Jan.-May

CHINA

China's property investment up 18.3 pct in Jan.-May

Xinhua

15:34, June 16, 2021

BEIJING, June 16 (Xinhua) -- China's investment in property development maintained steady expansion in the first five months of this year, data from the National Bureau of Statistics (NBS) showed Wednesday.

File photo: CFP

In Jan.-May period, property investment rose 18.3 percent year on year to 5.43 trillion yuan (about 847.4 billion U.S. dollars), NBS data showed.

The growth rate slowed from 21.6 percent increase in the first four months and 25.6 percent increase in the first three months.

Compared with the same period in 2019, property investment climbed 17.9 percent, putting average Jan.-May growth for 2020 and 2021 at 8.6 percent, NBS data showed.

Investment in residential buildings went up 20.7 percent year on year in the first five months.

Commercial housing sales jumped 36.3 percent year on year in terms of floor area to 663.83 million square meters. In terms of value, commercial housing sales soared 52.4 percent to 7.05 trillion yuan.

The property development climate index compiled by NBS came in at 101.17 points in May.

China's housing market continued to be stable, with home prices in 70 major cities showing moderate month-on-month increases in April, previous data showed.

The country will uphold the principle that "houses are for living in, not for speculation" and keep the prices of land, housing and market expectations stable, according to this year's government work report.

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