BEIJING, Dec. 15 (Xinhua) -- China's investment in property development cooled in the first 11 months of 2023, down 9.4 percent year on year, the National Bureau of Statistics (NBS) said Friday.
Investment in residential buildings amounted to 7.89 trillion yuan (1.11 trillion U.S. dollars), down 9 percent year on year, NBS data showed.
Commercial housing sales shrank 8 percent year on year in terms of floor area to 1.01 billion square meters.
In terms of value, commercial housing sales dropped 5.2 percent year on year to 10.53 trillion yuan.
The property development climate index, compiled by the NBS, came in at 93.42 points in November.
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