The Chinese Academy of Social Sciences (CASS) reports Chinese real estate developers invested RMB1.938 trillion yuan (about $248.4 billions) in projects last year, up 21.8% year on year.
Input in residential housing projects was 1.9% higher than the figure in 2005. According to the CASS report about 41.8% of the investment was used in developing ordinary residential housing projects, 3.6% for low-cost housing projects and 7.3% for up-market apartment and villas.
Source: People’s Daily Online