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China's Real Estate Sector Grows Strongly
China's real estate sector posted a strong growth in the first 11 months of 2000, according to the latest figures from the National Bureau of Statistics (NBS).
The area of land purchased rose 54.2 percent in the January- November period to 86.92 million square meters, while that of developed land went up 36.9 percent to 53.37 million square meters.
Newly started floor space in the first 11 months totaled 541.35 million square meters, up 31.6 percent from that of 1999.
The floor space of buildings completed and sold increased by 20. 1 percent and 35.3 percent, respectively.
Floor space sold to individuals soared by 54.7 percent to 167. 25 million square meters.
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