China`s property investment to grow less rapidly this year

by Dramelin 12:30 AM 0 comments

China`s consumer spending rose 10.4 percent last year, while its infrastructure spending expanded 17.4 percent. China`s investment in the property sector will likely expand at a slower pace in 2017 as Beijing looks to curb speculation, while infrastructure spending is expected to maintain a double-digit growth, state media cited a government adviser as saying. The government has been fretting over fast-rising leverage and the risk of asset bubbles in the rapidly growing economy, which expanded 6.7 percent in 2016. The country`s real estate investment rose 6.9 percent in 2016 as national sales posted their strongest annual growth in seven years thanks to a furious property boom in top-tier cities. Consumer spending, a key driver for the economy, is also expected to extend a double-digit growth this year, Li added.