China's Jan-Nov property investment up 10.2%

[BEIJING] China's property investment rose 10.2 per cent in the first 11 months of 2019 from a year earlier, slower than the 10.3 per cent growth seen in the first 10 months period, official data showed on Monday.

Property sales by floor area increased 0.2 per cent for January-November, compared with a 0.1 per cent increase in the first 10 months, the National Bureau of Statistics (NBS) said in a statement.

Property investment is a key growth driver for China. A resilient housing market has helped counter a slowdown in the manufacturing sector as a bruising trade war with the United States slashed profits and investments for factories.

But the housing sector's strength could be limited as policymakers have ruled out the possibility of further aggressive growth-boosting measures for the property market.

REUTERS