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China Q1 property investment speeds up

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World Cement,

Reuters are reporting that China’s property investment growth quickened to 6.2% in the first three months of 2016, as national sales growth accelerated to near three-year high.

Area of property sold in Q1 rose 33.1%, compared to 28.2% in the first two months of 2016, the highest since May 2013.

The growth in real estate investment, a major driver of the economy which affects more than 40 other sectors including cement, was up from an increase of 3% in the January - February period.

China's largest commercial developer Dalian Wanda Commercial Properties did announce last month however that it would scale back investment and construction in third and fourth-tier cities because of oversupply.

Edited from source by Joseph Green. Source: Reuters

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