China Jan-April property investment rises 9.3 percent year-on-year

Posted May 16, 2017

Industrial production slowed to year-on-year pace of 6.5% compared to 7.6% in March, while retail sales slowed to a 10.7% year-on-year pace compared to 10.9% in March.

May 15 Real estate investment in China rose 9.3 percent in the first four months of 2017 from a year earlier, official data showed.

Investment in residential properties rose 10.6 percent year on year in the first four months, and the floor space of new residential construction increased 17.5 percent year on year.

Industrial production rose 6.5 per cent from a year ago, the National Bureau of Statistics said, compared with 7.6 per cent in March and forecasts of 7.0 per cent in a survey by Bloomberg News.

China's economic activity slowed in April as tighter liquidity and attempts to rein in leverage weighed on growth.

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China is trying to shift its economy toward a growth model driven by consumer spending, innovation and services, while weaning it off reliance on exports and investment. However, he added: "We're still some way off from the economy weakening to the point where it will test the tolerance of the urgency to address some of these financial risk issues (is even greater)".

China's Bureau of Statistics said the softening was particularly pronounced at larger enterprises, where sales growth dropped to 9.2% from a pace of 10% in March.

High-tech and low-carbon products witnessed faster production growth in the first four months, with the production volumes of industrial robots and solar batteries surging 51.7 percent and 18.2 percent, respectively, Xing said at a press conference. Infrastructure investment and property investment, however, reported solid growth, increasing 23.3% y/y (ytd) and 9.3% y/y, respectively.

Still, further deceleration is expected this year after the government announced in March a trimmed 2017 GDP growth target of "around 6.5 percent".

The country's first quarter economic growth came in at a faster-than-expected 6.9 percent, the quickest since 2015 on higher government infrastructure spending and a gravity-defying property boom.