China's property investment keeps cooling in first three quarters

BEIJING, Oct. 18 (Xinhua) -- China's investment in property development continued to cool in the first three quarters of 2023, down 9.1 percent year on year, the National Bureau of Statistics said Wednesday.

Commercial housing sales shrank 7.5 percent year on year in terms of floor area to 848.06 million square meters. In terms of value, commercial housing sales dropped 4.6 percent year on year to 8.9 trillion yuan (about 1.2 trillion U.S. dollars).