May 15, 2019 / 2:04 AM / 11 days ago

China's Jan-April property investment up 11.9%, slightly quicker from Q1

BEIJING, May 15 (Reuters) - China’s real estate investment rose 11.9% in the first four months of the year from the same period last year, quickening a touch from 11.8% in the first quarter, official data showed on Wednesday.

Property sales by floor area fell 0.3% year-on-year in Jan-April, narrowing from a 0.9% drop in the first three months of this year, according to data from the National Bureau of Statistics.

China’s real estate market, a key driver of the economy, has shown signs of a resurgence recently as some local governments have loosened curbs on home purchases in the face of slowing growth. Beijing’s call for banks to ramp up lending and lower interest rates has also helped boost market confidence. (Reporting by Kevin Yao and Lusha Zhang; Editing by Sam Holmes)

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