China's property rights market expands in 2024

BEIJING, May 8 (Xinhua) -- China's property rights market saw expansion in 2024, demonstrating strong vitality despite a challenging global and domestic environment, data from the Chinese State-owned Property Exchanges Association showed.

The country's property rights market registered over 113 million transactions nationwide last year, with total trading volume edging up 0.16 percent year on year to reach 25.42 trillion yuan (about 3.53 trillion U.S. dollars).

The data elements business, which was included in official statistics for the first time in 2023, recorded transactions worth 11.25 billion yuan, data showed.

More than 62,000 agriculture-related transactions were made last year, totaling 50.82 billion yuan in value, a reflection of continued support for mobilizing rural assets and advancing rural revitalization.