China Real-Estate Investment Cooled in 1st Half

BEIJING--Property investment growth in China slowed in the first half of the year, as the base effect faded and Beijing tightened its control over the property market.

Real-estate investment rose 15% in the first half of the year, which compared with a 18.3% gain for January to May, according to data released Thursday by the National Bureau of Statistics.

New construction starts retreated more sharply, with construction starts measured by floor area up 3.8% compared with the 6.9% increase recorded in the first five months of the year.

Home sales by volume--a major indicator of demand--climbed 41.9% in the first half of 2021 from a year earlier, slower than the 56.5% gain in the January-to-May period.

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  07-14-21 2216ET
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