In the January-July period this year, total real estate investments in China amounted to RMB 7.5325 trillion ($1.1 trillion), up 3.4 percent year on year, 1.5 percentage points bigger than the increasing pace recorded in the first six months of the year, indicating a further improvement in the real estate industry, as announced by China's National Bureau of Statistics (NBS).
The year-on-year declines slowed down further in real estate sales and new construction over the first seven months of the year, signaling the booming construction activities and active transaction activities in the real estate market following the effective control of COVID-19 pandemic.
In the January-July period, new commercial real estate sold in China covered a total area of 836.31 million m2, down 5.8 percent on year-on-year basis, 2.6 percentage points slower than the decline recorded in the first six months.
The total area covered by construction activity in China in the January-July period increased by 3.0 percent, 0.4 percentage points faster than the 2.6 percent rise recorded in the first six months. Nevertheless, the decline in the total new area covered by construction activity slowed down to 4.5 percent from 7.6 percent in the first six months of the year.
$1 = RMB 6.9362