China's Jan-July property investment up 13.7 pct on year; sales revenues fall 8.2 pct
BEIJING Aug 13 (Reuters) - China's real estate investment rose 13.7 percent in the first seven months of 2014 from a year earlier, while revenues from property sales dropped 8.2 percent, the National Bureau of Statistics said on Wednesday.
The rise in investment compared with an increase of 14.1 percent in the first half of 2014. The drop in revenues compared with a fall of 6.7 percent for January to June.
Analysts believe the cooling housing market poses the biggest risk to the world's second-largest economy, even as Beijing tries to stimulate overall growth.
Real estate investment directly affects about 40 other business sectors and is crucial driver of activity.
(Reporting By Xiaoyi Shao and Koh Gui Qing; Editing by Kim Coghill)