China’s property investment up 10.5 pc in Jan.-Sept.


China’s investment in property development grew 10.5 percent year on year in the first nine months of 2019, unchanged from the reading of the first eight months, the National Bureau of Statistics said Friday, reports BSS/Xinhua.

The total property investment during the Jan.-Sept. period stood at 9.80 trillion yuan (about 1.4 trillion U.S. dollars), the NBS said.

The investment in residential buildings went up 14.9 percent year on year to 7.21 trillion yuan in the first nine months. The pace of growth remained unchanged from the Jan.-Aug. period.

Monday’s data also showed commercial housing sales in terms of floor area totaled 1.19 billion square meters from January to September, down 0.1 percent from the same period last year, narrowing from the 0.6-percent decline in the first eight months.

In the first nine months, commercial housing sales in value gained 7.1 percent to 11.15 trillion yuan, up 0.4 percentage points from the first eight months.