July 16, 2018 / 2:02 AM / 4 months ago

China H1 property investment up 9.7 pct y/y

BEIJING, July 16 (Reuters) - Real estate investment in China rose 9.7 percent in the first half of 2018 from the same period a year earlier, official data showed on Monday.

That compared with a 10.2 percent gain in the first five months of the year.

Property sales measured by floor area grew 3.3 percent in January-June from a year earlier, up from an increase of 2.9 percent in the first five months, data from the National Bureau of Statistics (NBS) showed.

New construction starts measured by floor area were up 11.8 percent in the period, compared with 10.8 percent in January-May, the NBS data showed.

Real estate is a key driver of economic growth in China but is expected to moderate as the government clamps down on property speculation following a more-than-two-year boom. (Reporting by Kevin Yao; Editing by Sam Holmes)

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