Real estate shows signs of stability

China's real estate sector has shown signs of halting its downward spiral and moving toward stabilization in the first half of the year, as the effect of various supportive policies kicked in, officials and analysts said.

Sheng Laiyun, deputy head of the National Bureau of Statistics, said during a news conference on Tuesday: "China's property market has seen improvements in trading volume, with the decline in commercial housing sales narrowing significantly compared to the previous year."

In the first half of this year, the national sales area of new commercial housing dropped 3.5 percent year-on-year, a 15.5 percentage point improvement from the same period last year and a 9.4 percentage point narrowing from the full-year 2024 figure, data from the bureau showed.