June 14, 2018 / 2:01 AM / 9 months ago

China Jan-May property investment up 10.2 pct y/y

BEIJING, June 14 (Reuters) - Real estate investment in China rose 10.2 percent in the first five months of 2018 from a year earlier, official data showed on Thursday.

That compared with a 10.3 percent gain in the first four months of the year.

However, property sales picked up pace, according to data from the National Bureau of Statistics (NBS). Sales measured by floor area grew 2.9 percent in January-May from the same period a year earlier, up from 1.3 percent in the first four months of the year.

New construction starts measured by floor area were up 10.8 percent in the period, compared with 7.3 percent in January-April, the NBS data showed.

Real estate is a key driver of economic growth in China but is expected to moderate as the government curbs excessive fund flows into property following a boom of more than two years. (Reporting by Kevin Yao; Writing by Yawen Chen; Editing by Sam Holmes)

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