China property investment, sales ease in second quarter but remain resilient to curbs
China’s real estate investment growth slowed slightly in the second quarter from the first, suggesting government curbs to rein in the red-hot property market are starting to hit speculators even though underlying demand remains resilient. Growth in property investment, which mainly focuses on residential but also includes commercial and office space, eased to 8.2 percent in April-June from a year earlier, compared to a 9.1 percent expansion in the first three months of the year, according to Reuters calculations based on data from the National Bureau of Statistics (NBS). Real estate investment is a major driver of the economy affecting more than 40 other sectors.
