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BEIJING, March 14 China's real estate investment
growth slowed to 8.9 percent in the first two months of 2017
from the same period a year earlier, while property sales sped
up despite government cooling measures, according to official
Real estate investment, which directly affects about 40
other business sectors in China, is considered to be a crucial
driver for the world's second largest economy.
The Jan-Feb investment growth, reported by the National
Bureau of Statistics (NBS), compared with 6.9 percent in the
full year of 2016, and 11.1 percent in December alone according
to Reuters' calculations based on official data released on
Property sales by area rose 25.1 percent year-on-year in the
first two months of this year. That was above the 22.5 percent
annual gain in 2016, which was the strongest annual growth in
seven years thanks to a property boom in top-tier cities.
Property sales area rose 11.8 percent in December alone,
according to Reuters' calculations.
Policymakers have started to worry about an overheating
property market and the risk of a sudden and sharp correction
knocking down the economy. A series of buying and ownership
restrictions have been implemented in hot markets since October.
(Reporting by Beijing Monitoring Desk and Yawen Chen; Editing
by Randy Fabi)