China National Bureau of Statistics: Jan-May new commercial housing sales area
313.2 mln sq m, down 10.8% YoY; residential sales area down 12.1%. New
commercial housing sales value CNY 2,936.6 bln, down 13.5%; residential sales
value down 14.1% YoY. Developers’ building construction area 5,487.8 mln sq m,
down 12.3%; residential construction 3,808.3 mln sq m, down 12.6%. New starts
179.3 mln sq m, down 22.6%; residential starts 130.8 mln sq m, down 23.4%.
Completions 140.9 mln sq m, down 23.4%; residential completions 100.0 mln sq m,
down 25.0%. At end-May, inventory for sale 771.8 mln sq m, down 0.4% YoY;
inventory under three years 571.5 mln sq m, down 2.8%.