Guangdong's $73-B real estate investment highest among Chinese provinces

Guangdong province invested $73.31 billion in real estate development in the first five months of this year, to rank first in China.

Jiangsu and Zhejiang provinces ranked second and third with 496.49 billion yuan and 108.95 billion yuan, respectively.

Among regions, the Tibet autonomous region topped the country with 45 percent in the same period, according to the National Bureau of Statistics.

Twenty-three other regions' outperformed the national level in growth rate in real estate development investment from January to May this year.
China invested 4,592 billion yuan in real estate development in the first five months, a 0.3 percent year-on-year decrease.

China's real estate industry recovered rapidly in May.

From January to May, China posted a transaction area of 213.65 million square meters of residential land in 100 cities, a year-on-year decrease of 6.2 percent, which narrowed from the 8.7 percent slump in the first four months.