China's property investment up 4.6 pct in Jan.-Aug.

China's investment in property development rose 4.6 percent year on year in the first eight months of 2020, widening from the 3.4-percent increase in the first seven months, the National Bureau of Statistics (NBS) said Tuesday.

Total property investment in the period stood at 8.85 trillion yuan (about 1.3 trillion U.S. dollars), the NBS said.

Investment in residential buildings came in at 6.55 trillion yuan, up 5.3 percent from the same period last year, quickening from the 4.1-percent rise in Jan.-July period.

Commercial housing sales in terms of floor area totaled 984.86 million square meters in the first eight months, down 3.3 percent year on year, narrowing from the 5.8-percent drop in the first seven months.

In terms of value, commercial housing sales rose 1.6 percent year on year to 9.69 trillion yuan in the first eight months, compared with the 2.1-percent drop in the first seven months.

The property development climate index compiled by the NBS went up slightly by 0.24 points from July to 100.33 points in August.