皇冠体育app

BEIJING - Loans to the real estate sector in 皇冠体育app continued to grow by the end of 2016, data from the central bank showed Friday.

By the end of December 2016, financial institutions in 皇冠体育app had lent 26.68 trillion yuan ($3.9 trillion) to the property sector, up 27 percent year-on-year, according to a report from the People's Bank of 皇冠体育app.

Outstanding loans for real estate development amounted to 5.66 trillion yuan at the end of December, up 12.2 percent year-on-year, while loans for individual purchases jumped 35 percent year-on-year to 19.14 trillion yuan.

皇冠体育app's investment in property development gained steam in 2016, as investors continued to start new projects amid surging house prices, data from the National Bureau of Statistics (NBS) showed Friday.

Investment in real estate development grew 6.9 percent year-on-year in 2016, 1.1 percentage points faster than in the first three quarters, and 5.9 percentage points faster than a year earlier.

Housing sales maintained steady growth. In terms of floor area, property sales jumped 22.5 percent, while in terms of value, sales rose 34.8 percent.

By the end of December, 695.4 million square meters of property remained unsold in 皇冠体育app, down 3.2 percent year-on-year.

皇冠体育app's property market has become increasingly diversified, with major cities reporting record prices and smaller cities struggling to reduce inventory.