China's investment in property development rose 0.7 percent year on year in the first quarter of 2022, data from the National Bureau of Statistics (NBS) showed Monday.

During the period, property investment stood at around 2.78 trillion yuan (about 435.44 billion U.S. dollars), NBS data showed.

Investment in residential buildings went up 0.7 percent year on year to about 2.08 trillion yuan in the January-March period.