BEIJING: Investment in China’s property sector rose 5.1 percent year on year to 3.23 trillion yuan (528.21 billion U.S. dollars) in the first five months of the year, the National Bureau of Statistics announced Thursday.
The growth narrowed from the 6-percent increase seen in the first four months, underscoring lingering weakness in the sector.
In the Jan-May period, investment in residential housing posted an increase of 2.9 percent from the same period last year to 2.16 trillion yuan, down from the 3.7-percent growth registered in the first four months.
Sales of commercial housing rose 3.1 percent year on year to 2.44 trillion yuan in the first five months, while that in the first four months posted a 3.1-percent decline.
