Fixed-assets investment is showing no sign of slowing, with year-on-year growth of 26.7% from January to August.

The National Bureau of Statistics said RMB6.6 trillion was pumped into new projects in the period, and more than one-fifth of the money was channeled into real estate.

Fixed-assets investment growth has slowed from around 30% last year to the current 26.7% in the previous eight months.

But it is still higher than the 25% set by economists as the warning line.

Property developers and local governments are still driving fast-paced growth. The central government has listed curbing fast investment, the trade surplus and high inflation as its major targets for macroeconomic control.

Meanwhile, property prices are still going up. The National Development and Reform Commission said the average housing price in 70 major cities had increased by 8.2% in August compared with the same period last year.

Property developers poured RMB1.42 trillion into the economy in the first eight months, 29% more than the same period last year.
Source: China Daily