China releases: The decline in some real estate indicators continues to narrow. National Bureau of Statistics: The market is still in adjustment
2024-08-15
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China.com August 15th (Reporter Peng Yao) The State Council Information Office held a press conference on the 15th. Liu Aihua, spokesperson, chief economist and director of the National Economic Statistics Department of the National Bureau of Statistics, said that from January to July, the national fixed asset investment (excluding farmers) was 287611 billion yuan, a year-on-year increase of 3.6%, down 0.3 percentage points from January to June; excluding real estate development investment, the national fixed asset investment increased by 8.0%.
In terms of different sectors, infrastructure investment increased by 4.9% year-on-year, manufacturing investment increased by 9.3%, and real estate development investment decreased by 10.2%. The sales area of newly built commercial housing nationwide was 541.49 million square meters, a year-on-year decrease of 18.6%; the sales volume of newly built commercial housing was 533.3 billion yuan, a decrease of 24.3%.
In terms of different industries, investment in the primary industry increased by 3.3% year-on-year, investment in the secondary industry increased by 12.5%, and investment in the tertiary industry decreased by 0.7%. Private investment remained the same year-on-year; excluding real estate development investment, private investment increased by 6.5%.
On August 15, the State Council Information Office held a press conference. Liu Aihua, spokesperson, chief economist, and director of the National Economic Comprehensive Statistics Department of the National Bureau of Statistics, introduced the national economic operation in July 2024. Photo by Liu Zhenke, China.com
Liu Aihua said that judging from the main data of the real estate sector in July, under the influence of a series of policies, the decline of some real estate-related indicators continued to narrow. From January to July, the sales area of new commercial housing decreased by 18.6% year-on-year, a decrease of 0.4 percentage points from January to June; the sales of new commercial housing decreased by 24.3% year-on-year, a decrease of 0.7 percentage points; the funds in place of real estate developers decreased by 21.3% year-on-year, a decrease of 1.3 percentage points.
However, we should also note that most real estate indicators are still declining, and the overall real estate market is still in the process of adjustment. In the next stage, we should implement the new policies to promote the stable and healthy development of the real estate market in accordance with the spirit of the Politburo meeting, adhere to the combination of digesting the stock and optimizing the increase, actively support the acquisition of stock commercial housing for use as affordable housing, further do a good job in the work of ensuring the delivery of housing, accelerate the construction of a new model of real estate development, and promote the stable and healthy development of the real estate market.
Editor: Wei Jing
