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China’s property investment picks up in April


China’s real estate investment rose 11.9 per cent in the first four months of the year from the same period last year, quickening a touch from 11.8 per cent in the first quarter, official data showed on Wednesday.

Property sales by floor area fell 0.3 per cent year-on-year in January-April, narrowing from a 0.9 per cent drop in the first three months of this year, according to data from the National Bureau of Statistics.

China’s real estate market, a key driver of the economy, has shown signs of a resurgence recently as some local governments have loosened curbs on home purchases in the face of slowing growth.

Beijing’s call for banks to ramp up lending and lower interest rates has also helped boost market confidence.