China's property investment down 4 pct in January-May

BEIJING, June 15 (Xinhua) -- China's investment in property development went down 4 percent year on year in the first five months of 2022, data from the National Bureau of Statistics (NBS) showed Wednesday.

The total property investment in the period stood at 5.21 trillion yuan (about 772 billion U.S. dollars), the NBS said.

Investment in residential buildings came in at 3.95 trillion yuan, down 3 percent year on year.

Commercial housing sales in terms of floor area totaled 507.38 million square meters in the first five months, down 23.6 percent year on year.

In terms of value, commercial housing sales fell 31.5 percent to 4.83 trillion yuan during the five-month period, according to the NBS.

The property development climate index compiled by the NBS came in at 95.6 points in May.