R
eal estate investment in China declined by 10.1% over the first nine months of this year compared to the same period last year, according to data from the National Bureau of Statistics (NBS) cited by Reuters.

    Sales of real estate by area dropped by 17.1% year-over-year between January and September, a slight improvement from an 18% decline in the first eight months. New construction volume decreased by 22.2% over nine months, while funds raised by Chinese developers fell by 20%.

    In response to the sector's struggles, Chinese authorities have introduced measures to support real estate. Banks are now required to lower mortgage rates on existing housing loans, and restrictions on buying homes in major cities have been eased.

    The decline in key indicators has slowed over the past three quarters, suggesting that these efforts are having a positive impact, according to Shen Laiyun, deputy chairman of NBS.

    China's steel production also showed signs of stabilization in September, with output decreasing by 1.1% month-over-month to 77.07 million tons, the lowest level since December last year. Improved seasonal demand and Beijing's stimulus package helped slow the decline, which had been more pronounced in previous months.