The investment in real estate of Guilin City reached 13 billion yuan during “the tenth five projects”

Source: Guilin Evening Newspaper January 17^th , 2006

From 2001 to 2005, Guilin’ total real estate investment has reached 13.616 billion RMB. In 2005, the investment was 4.427 billion RMB which was almost 6 times more than that of 785 million RMB in 2000 when the “ninth five-year plan” was finished. At the same time, the proportion of the real estate development investment to the total investment rose up to 20% from less than 10% in the end of the “ninth five-year plan”. Especially since year 2003, the proportion has stayed at more than 20% and the investment on real estate has become a key factor that facilitated the economic development of Guilin City. The improvement of the housing commercial degree accelerated the fast development of real estate industry. From 2001 to 2005, the floor space of the commercial buildings for sale achieved 4.9124 million square meters. As s result, the housing condition was enhanced and went into the direction towards houses perfecting process from the poor helping process. In the end of 2000, the per capita floor space of buildings was16.35 square meters and it reached 27.8 square meters in 2005 which was 1.8 square meters more than that of the national level that was 26 square meters.

With economic development and the implement of several macro control measure on planning and land resource adopted by the government department, the real estate market was more normative and mature during the “tenth five-year plan”, so the investors got more confidence. In the end of 2005, the number of real estate enterprises increased from 158 in the end of 2000 to 279, and the registered capital increased almost 900 million RMB. Because of the improvement of the investing environment, more and more foreign investment was attracted to Guilin. In the end of “tenth five-year plan” period, the number of the foreign investors has increased from more than 10 in the end of “ninth five-year plan” period to more than 40 with the increase of 300 million RMB registered capital.