China property investment, sales growth pick up in August, despite curbs

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China property investment, sales growth pick up in August, despite curbsChina’s real estate investment growth picked up pace again in August as demand held up despite various government curbs, unlike factory output, fixed asset investment and retail sales which fell short of expectations. A resilient property market will be good news for China’s policymakers, who want to keep the real estate market stable ahead of a once-in-five-years Communist Party congress in October.Real estate investment, which directly affects 40 other business sectors in China, is considered a crucial driver for the economy. Analysts said an acceleration in property investment showed developers’ willingness to replenish a falling inventory of finished homes, on the back of strong demand from smaller cities this year.

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