Investments in property development in China increased 10.2% in January-May

Date: 07:29, 15-06-2018.

Beijing. June 15. Silkroadnews - China’s investment in property development expanded 10.2 percent year on year in the first five months of this year, the National Bureau of Statistics (NBS), Xinhua reports.
In January-April, this growth was slightly slower than 10.3%.
According to the NBS, investment in real estate development in the first five months amounted to 4.1 trillion yuan (about $650 billion).
Investments in residential real estate reached 2.9 trillion yuan, which is 14.2% higher compared to the previous four years.
Investments in the northeastern region grew faster - by 19.9%, which is 9.2 percentage points up compared to January-April.
Over the first five months, developers built about 6.8 billion square meters of housing, which is 2% more than last year.
Commercial housing sales measured by floor area rose 2.9 percent year on year, up 1.6 percentage points compared with the first four months. Sales in value climbed 11.8 percent, up 2.8 percentage points. At the end of May, about 560 million square meters of housing was unsold in China, down 6.8 million square meters from a month earlier, the report reads.

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