China's property investment down 6.4 pct in January-July period

BEIJING, Aug. 15 (Xinhua) -- China's investment in property development went down 6.4 percent year on year in the first seven months of 2022, data from the National Bureau of Statistics (NBS) showed Monday.

The total property investment in the period stood at 7.95 trillion yuan (about 1.18 trillion U.S. dollars), the NBS said.

Investment in residential buildings came in at 6.02 trillion yuan, down 5.8 percent year on year.

Commercial housing sales in terms of floor area totaled 781.78 million square meters, down 23.1 percent year on year. In value, the sales fell 28.8 percent to 7.58 trillion yuan.

The property development climate index compiled by the NBS came in at 95.26 points in July.