China's property investment slowed to its weakest pace this year in a sign ...
BEIJING - China’s property investment slowed to its weakest pace this year in a sign the housing market’s resilience may be waning as Beijing toughens its crackdown on speculative investments and holds back on new stimulus.
Real estate has also been one of the few bright spots in the economy, which is dealing with the effects of a bruising trade war with the United States. At the same time, there are concerns further cooling could lead to painful repercussions for local government such as shrinking revenues. A slowdown has been felt deeply in many provincial cities after the real estate market hit a downturn in late 2018.
The moderation was in line with shrinking factory activity and a worse-than-expected contraction in producer prices seen in July, which have added to broader worries about the prospects of a global recession.
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