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Chinas 2020 Property Investment Rises 7 yy

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BEIJING, Jan 18 Reuters Chinas property investment rose more slowly in 2020 from a year earlier although the rate of growth remained robust, official data showed on Monday.

Real estate investment in China rose 7.0 in 2020 from a year earlier, accelerating from a 6.8 gain in the first 11 months of the year, the National Bureau of Statistics NBS said in a statement. But the growth rate was down from 9.9 in 2019.

Property sales by floor area rose 2.6 yearonyear in 2020, faster than a 1.3 rise in JanuaryNovember, the official data showed.

New construction starts measured by floor area fell 1.2 in 2020 from a year earlier, compared with the 2.0 drop in JanuaryNovember.

Funds raised by Chinas property developers grew 8.1, up from the 6.6 growth seen in the first 11 months of the year.

Reporting by Liangping Gao, Lusha Zhang and Ryan Woo; Editing by Ana Nicolaci da Costa

Source Reuters

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