China’s property investment and economic growth slows

Growth in property investment in China cooled to the second slowest pace in 2018 in December, adding to signs of a further slackening in the real estate market in a blow to a key driver economic growth, according to Reuters

Real estate investment, which mainly focuses on the residential sector but includes commercial and office space, rose 8.2 percent in December from a year earlier, down from 9.3 percent in November, according to Reuters’ calculations based on data released by National Bureau of Statistics.

Additionally, China’s economy grew 6.6 percent in 2018, its slowest pace in almost 30 years, reported The Guardian. Official data confirmed that China’s growth in 2018 was the country’s slowest reported rate since 1990 and down from 6.8 percent in 2017. The 6.4 percent growth rate in the fourth quarter of 2018 was last seen in early 2009 at the height of the global financial crisis.