Money

China’s 2018 property investment up 9.5 pct y/y


BEIJING, Jan 21 (Reuters) – Real estate investment in China rose 9.5 percent in 2018 from a year earlier, slowing from a 9.7 percent gain in the first 11 months of the year, official data showed on Monday.

The property market, a key growth driver, has been cooling in recent months, adding to pressure on China’s slowing economy. Further weakness, or signs of recovery, could impact the pace and scope of further stimulus measures expected from Beijing this year.

Property sales by floor area increased 1.3 percent year-on-year in 2018, easing from a 1.4 percent rise in January-November, data from the National Bureau of Statistics showed. (Reporting by Yawen Chen and Min Zhang; Editing by Shri Navaratnam)

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