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hina's real estate investment dropped 10.3% year-on-year in the first ten months of this year, according to data from the National Bureau of Statistics (NBC), as reported by Reuters.

    Real estate sales by area declined 15.8% over the same period compared to last year, while new construction volume decreased 22.6%. Chinese developers also saw a 19.2% drop in funds raised year-on-year.

    Despite government efforts to boost the market through lower borrowing costs and increased funding for struggling developers, the sector has yet to show significant signs of recovery.

    NBC's Fu Linghui emphasized China's commitment to stabilizing the real estate industry, which was announced at the end of September. He described the current state as "actively improving," but acknowledged that a decline in sales and construction still persists.

    Meanwhile, China's steel production rebounded in October, increasing 6.2% from the previous month and 2.9% year-on-year to 81.88 million tons, ending a four-month decline driven by improved demand and market sentiment amid Beijing's economic stimulus efforts.