Posted on 16 Mar 2023
China's fixed asset investment (FAI) increased by 5.5% on year to Yuan 5.36 trillion ($778.5 billion) over January-February, according to the latest release by the country's National Bureau of Statistics (NBS) on Wednesday morning. Within the total, the funding in the domestic property market declined by 5.7% on year to Yuan 1.37 trillion.
During the first two months, China's privately-owned enterprises contributed Yuan 2.9 trillion, or 54.9% of the country's total FAI, up 0.8% on year. And the tertiary industry attracted the most funding among the three economic sectors, with the amount increasing by 3.8% on year to Yuan 3.6 trillion. Moreover, the funding in infrastructure construction rose by 9% on year, according to the NBS data.
About Yuan 1 trillion of the funding in China's property market went into residential housing projects over the past two months, or 4.6% lower on year.
Meanwhile, the total area of China's newly-launched property projects slipped by 9.4% on year to 135.7 million sq m over January-February, with residential housing projects losing 8.7% on year to 98.9 million sq m.
Over January-February, China's property sales added up to 151.3 million sq m, down by 3.6% on year, among which residential housing sales eased by 0.6% on year. By region, East China ranked the top in property sales with 60.8 million sq m, though the volume was still down by 2.2% on year, the NBS data showed.
By end-February, inventories in the Chinese property market grew by 14.9% on year to 655.3 million sq m, and the country's property market climate index remained in the negative zone at 94.67, according to the NBS data.
Source:Mysteel Global
