LINE

Text:AAAPrint
Economy

China's property development investment sees faster growth

1
2018-03-14 10:23Xinhua Editor: Gu Liping ECNS App Download

China's investment in property development expanded 9.9 percent year on year in the first two months of this year, up from 7 percent for the whole year of 2017, the National Bureau of Statistics said Wednesday.

Total investment in the first two months stood at 1.08 trillion yuan, the NBS said in a statement on its website.

Investment in residential housing registered an increase of 12.3 percent from the same period last year and accounted for 68.1 percent of the total.

The country began construction on 177.46 million square meters of housing, up 2.9 percent year on year.

Commercial housing sales measured by floor area rose 4.1 percent in the first two months, down from 7.7 percent for 2017.

Housing sales value rose 15.3 percent, up from 13.7 percent for 2017.

At the end of February, about 585 million square meters of housing was unsold in China, down by 4.55 million square meters or 0.8 percent from the end of last year.

This year's government work report reiterated that "houses are for living in, not for speculation."

"We will support people in buying homes for personal use, and develop the housing rental market and shared ownership housing," it said.

  

Related news

MorePhoto

Most popular in 24h

MoreTop news

MoreVideo

News
Politics
Business
Society
Culture
Military
Sci-tech
Entertainment
Sports
Odd
Features
Biz
Economy
Travel
Travel News
Travel Types
Events
Food
Hotel
Bar & Club
Architecture
Gallery
Photo
CNS Photo
Video
Video
Learning Chinese
Learn About China
Social Chinese
Business Chinese
Buzz Words
Bilingual
Resources
ECNS Wire
Special Coverage
Infographics
Voices
LINE
Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2018 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.