China Q1 property investment rises

China Q1 property investment rises
18/04/2017 , by , in INTERNATIONAL

Real estate investment in China rose 9.1 percent in the first quarter from a year earlier, official data showed, as the pace of new construction starts quickened despite intensified government cooling measures.

The pace of investment growth accelerated from 8.9 percent in the first two months of 2017, the National Bureau of Statistics (NBS) said.

However, it marked a deceleration from 10.0 percent in the fourth quarter of 2016, according to Reuters calculations.

New construction starts measured by floor area were up 11.6 percent in the first three months of the year, comparing with a 10.4 percent rise in first two months, the NBS data showed.

Property sales measured by floor area grew 19.5 percent in Janaury-March from the same period a year earlier, down from 25.1 percent in the first two months of the year but still remained at an elevated level.

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