China Academy of Middle Finger Studies: The sales area of newly built commercial housing nationwide in the first half of the year decreased by 3.5% year-on-year, and the decline was significantly narrowed.

According to the Smart Finance and Economics APP, the China Real Estate Research Institute stated in a document that from January to June, the sales area of newly-built commercial housing nationwide was 4.59 billion square meters, a decrease of 3.5% year-on-year. The decline was significantly narrower compared to the same period last year, but slightly wider compared to the period from January to May. In terms of supply, the decline in new construction continues to narrow at a low level, while the decline in investment has slightly expanded. From January to June, the national real estate development investment amounted to 4.67 trillion yuan, a decrease of 11.2% year-on-year. Looking ahead to the second half of the year, it is expected that governments at all levels will fully promote policies already in place to take effect and stabilize the real estate market.