China's Jan-Nov FAI up 5.3%, property down 9.8% y-o-y

China's fixed asset investment (FAI) increased by 5.3% on year to Yuan 52 trillion ($7.5 trillion) over January-November, according to the latest release by the country's National Bureau of Statistics (NBS) on Thursday morning. Within the total, that in the domestic property market declined by 9.8% on year to Yuan 12.4 trillion.

During the first 11 months, China's privately-owned enterprises contributed Yuan 28.4 trillion, or 54.6% of the country's total FAI, up 1.1% on year. And the tertiary industry attracted the most funding among the three industrial sectors, with the total increasing by 3.2% on year to Yuan 34 trillion. Moreover, that in the infrastructure sector also rose by 8.9% on year.

Among the total funding in China's property sector over the past 11 months, about Yuan 9.4 trillion went into residential housing projects, or 9.2% lower on year. New land leased to Chinese property developers slumped by 53.8% on year to 84.6 million sq m, according to the NBS data.

Meanwhile, China's total area of newly-launched property projects plunged by 38.9% on year to 1.12 billion sq m over January-November, with residential housing projects losing 39.5% on year to 817.3 million sq m.

Over January-November, China's property sales added up to 1.21 billion sq m, down by 23.3% on year. Within this, residential housing sales also slipped by 26.2% on year. By region, East China ranked the top in sales with 502.1 million sq m, though the volume was still down by 22.8% on year, the NBS data showed.

By end-November, inventories in Chinese property market grew by 10% on year to 552 million sq m. The property market index calculated by NBS remained in the negative zone last month at 94.42, as against 94.7 in October.

Written by Carly Chen, chenziyi@mysteel.com

This article has been published under an article exchange agreement between Mysteel Global and SteelMint.