China Q1 property investment rises 16.8 pct y/y

BEIJING, April 16 Tue Apr 15, 2014 10:05pm EDT

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BEIJING, April 16 (Reuters) - China's real estate investment rose 16.8 percent in first three months of 2014 from a year earlier, and revenues from property sales dropped an annual 5.2 percent, the National Bureau of Statistics said on Wednesday.

The rise in investment compares with an increase of 19.3 percent in the first two months of 2014. The drop in revenues compares with an 3.7 percent annual fall for January and February.

Real estate investment, which directly affects about 40 other business sectors in China, is considered to be a crucial driver of activity in the world's second-largest economy. (China Economics Team; Editing by John Mair)

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