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October mainland activity shows dip

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The mainland's property development activity eased slightly last month, but general housing production and consumption has improved significantly this year.

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Official figures show the real-estate development industry index last month slipped 0.09 of a point from September, to 103.43 points, says Xinhua.

The National Bureau of Statistics (NBS) said the drop came from the decrease in the number of newly completed buildings.

The total area of newly completed buildings was 88.93 million square metres from January to October, 18.2 per cent up on a year earlier, but the growth rate was 4.1 percentage points lower than the January-to-September period.

The building price index last month dipped 0.08 of a point, to 94.79, close to the levels during the first three quarters.

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The NBS said measures the government adopted to reform the real-estate market, improve the credit system of the banking sector and encourage people to buy houses had seen an increase in the sector's production and consumption.

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