China's Jan-Sept property investment rises 8.8% y/y

  • 10/18/2021
  • 00:00
  • 11
  • 0
  • 0
news-picture

BEIJING, Oct 18 (Reuters) - China’s property investment rose 8.8% in the first nine months of 2021 from a year earlier, slowing from 10.9% growth seen in January-August, official data showed on Monday. Property sales by floor area rose 11.3% in January-September, according to data from the National Bureau of Statistics, compared with a 15.9% jump seen in the first eight months. New construction starts measured by floor area fell 4.5% from a year earlier, versus a 3.2% drop in the first eight months. Funds raised by China’s property developers grew 11.1%, slower than the 14.8% rise seen in the first eight months. China’s property market, a key driver of economic growth, is under growing pressure as more debt-laden developers struggle to avoid defaults and home sales weaken. Authorities have also stepped up efforts this year to curb rising home prices. (Reporting by Liangping Gao and Kevin Yao; Editing by Jacqueline Wong) Our Standards: The Thomson Reuters Trust Principles.

مشاركة :