NBS: China's Jan-Feb FAI up 4.2%, property down 9% YoY
During the first two months, China's privately-owned enterprises contributed Yuan 2.68 trillion, or 52.6% of the country's total FAI, gaining 0.4% from the same period last year. The tertiary industry attracted the most funding among the three economic sectors, with the amount rising by 1.2% on year to reach Yuan 3.42 trillion. Meanwhile, the funding in infrastructure construction also climbed by 6.3% on year, according to the NBS data.
As for the property sector, about Yuan 882.3 billion in the country's total funding in it went into residential housing projects over January-February, or 9.7% lower on year.
In parallel, the total area of China's newly-launched property projects slumped by a significant 29.7% on year to 94.29 million sq m during January-February, with that of residential housing projects plunging 30.6% on year to 67.96 million sq m.
Over the past two months, China's property sales by floor area added up to 113.69 million sq m, down by 20.5% on year, among which residential housing sales also fell by 24.8% on year. By region, East China ranked the top with property sales of 49.38 million sq m during the first two months, but the volume moved lower too by 17.7% on year, the NBS data showed.
By end-February, inventories in the Chinese property market mounted by 15.9% on year to 759.69 million sq m, while the country's property market climate index remained in the negative zone at 92.13, as against 93.36 in December last year.
Written by Carly Chen, chenziyi@mysteel.com
Edited by Alyssa Ren, rentingting@mysteel.com
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