(Yicai Global) Oct. 19 -- China's investment in real estate development climbed more than expected in the first three quarters as confidence in economic growth improved.

Investment rose by 5.6 percent to CNY10.35 trillion (USD1.5 billion) in the nine months from a year ago, the National Bureau of Statistics announced today. In the first eight months, the increase was 4.6 percent.

Some 22 chief economists at major Chinese financial institutions predicted that the figure for the three quarters would be 5.11 percent, according to a survey done by Yicai Global.

The area of sold commercial property over the nine months was 1.17 billion square meters, down 1.8 percent from the same period of last year, the NBS added.

Editor: Emmi Laine