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China's 2019 property investment up 9.9% y-o-y, sales fall

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Real estate investment in China rose 9.9 per cent in 2019 from a year earlier, slowing slightly from a 10.2 per cent gain in the first 11 months of the year, official data showed on Friday.

[BEIJING] Real estate investment in China rose 9.9 per cent in 2019 from a year earlier, slowing slightly from a 10.2 per cent gain in the first 11 months of the year, official data showed on Friday.

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

Property sales by floor area eased 0.1 per cent year-on-year in 2019, after rising 0.2 per cent in January-November, data from the National Bureau of Statistics showed.

REUTERS