The Building Materials Home Index (BHI) in March jointly issued by the Department of Circulation Industry Development of the Ministry of Commerce of the P.R.C. and China Building Materials Circulation Association (CBMCA) was 105.35, growing by 22.65% month on month and 12.10% year on year.

The sales of Chinese building materials and home furnishings stores above designated size reached RMB92.63 billion in March, growing by 57.24% month on month and 26.47% year on year. The cumulative sales of January-March reached RMB221.37 billion, down by 2.88% year on year.

According to the interpretation of this BHI data by Qin Zhanxue, the Executive Vice President of CBMCA, from an expert’s prospective: spring in March, driven by the continuous heating up of the Chinese real estate market since 2016,

BHI had a large increase in March, and Chinese building materials and home furnishings stores above designated size also achieved a large increase. It is thus clear that those stores have picked up significantly after going cold during Spring Festival.

(Source: JJGLE.COM)