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China's Real Estate Sector Sees Steady Growth
China's real estate sector maintained steady growth in August, mainly because of increases in real estate investment and housing prices, the National Bureau of Statistics (NBS) said Friday.

The latest NBS figures show that In August, the real estate index, indicating China's real estate development level, reached 104.16 points, up 0.17 points from that in July.

Between January and August, real estate developers nationwide invested a total of 541.6 billion yuan (65.4 billion US dollars), up 36.4 percent year-on-year, and the total investment materialized amounted to 414.4 billion yuan (50 billion US dollars), up 30 percent.

The average housing price in the eight months was 231,9 yuan (280 US dollars) per square meter, up 2.5 percent from the same period last year.

A total of 93.46 million square meters of housing was built in the eight months, a rise of 26 percent from a year earlier. Meanwhile, unsold housing increased by 14.1 percent.

According to NBS, China's real estate index has been hovering around 104.50 points since April this year, indicating that China's real estate development has entered a stage of comparatively steady development.

(China Daily September 21, 2002)

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