Realty takes heart from 2023 positives

China's property market saw some positive changes last year with declines in property investment and sales volume narrowing, suggesting the industry's long-term development remains on a solid and secure footing, given the continuing urbanization and the huge growth potential that the industry's new development pattern promises, officials and industry experts said on Wednesday.

"After more than two decades of development, the nation's property market is undergoing an adjustment and transition. Against such a backdrop, local governments and related divisions keep optimizing housing policies in a timely manner to be in tune with changing market dynamics," said Kang Yi, head of the National Bureau of Statistics, on Wednesday.

Kang said property investment in 2023 slowed at 9.6 percent year-on-year, narrowing by 0.4 percentage point from a year earlier.