Growth in China's property investment slowed over January to July, even as the government scrambled to balance an increasingly stratified sector, clouding the outlook for China's economic expansion in the second half of the year.
Property investment in January-July rose 5.3% from a year earlier, data from the National Bureau of Statistics (NBS) showed on Friday, slowing from an increase of 6.1% in January-June, while property sales by floor area grew 26.4%, down from 27.9%.
Some analysts believe an oversupply problem still remains largely unresolved, especially in China's smaller cities.
"Today's (Friday's) data show that a nationwide oversupply problem still exists, which will continue putting downward pressure on future growth," Wendy Chen, macroeconomist at Nomura told Reuters.
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Property investment in January-July rose 5.3% from a year earlier, data from the National Bureau of Statistics (NBS) showed on Friday, slowing from an increase of 6.1% in January-June, while property sales by floor area grew 26.4%, down from 27.9%.
Some analysts believe an oversupply problem still remains largely unresolved, especially in China's smaller cities.
"Today's (Friday's) data show that a nationwide oversupply problem still exists, which will continue putting downward pressure on future growth," Wendy Chen, macroeconomist at Nomura told Reuters.
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